The Mosaic Co. and Investment Saskatchewan said June 20 they are seeking a buyer for Saskferco Products Inc. (Saskferco).
“Saskferco is an excellent company and will have an exciting future under new ownership,” said Jim Prokopanko, Mosaic president and CEO. “The sale of Saskferco will allow us to focus on our core businesses of potash and phosphates and to fund the planned expansions of our Saskatchewan potash mines and other non-U.S. assets. We remain fully committed to Saskatchewan and are aggressively pursuing our 5.1 million mt potash capacity expansion initiative in the province over the next 12 years.”
“Saskferco is a strong company that is well positioned for the future,” said Minister Lyle Stewart, the Minister Responsible for Investment Saskatchewan. “Provided that a fair value can be obtained, there is no longer any reason for the government to retain its minority ownership position. We expect Saskferco to continue as a vibrant and successful private company in our provincial economy.”
The owners said there can be no certainty a sale of Saskferco will result from this process.
The Saskferco nitrogen plant at Belle Plaine, Sask., has the capacity to produce 648,000 mt of anhydrous ammonia, 968,000 mt of urea, and 230,000 mt of UAN, according to the International Fertilizer Development Center.