Santiago-Sociedad Quimica y Minera de Chile S.A. (SQM) said Jan. 7 that its Chilean subsidiary, Soquimich Comercial S.A. (SQMC), and Anagra S.A., a Chilean fertilizer distribution company, signed a memorandum of understanding oriented to implement the merger of the two companies. SQMC imports, blends, and distributes specialty and commodity fertilizers in the Chilean market. SQM said the merger would result in the creation of a new fertilizer distribution company in Chile that would benefit from cost synergies and efficiency gains, enabling the company to better serve customers in this market. The merger must be approved by the Chilean Antitrust Commission in order for it to go into effect. SQM will continue to be the majority shareholder of the new company. SQMC reported profits of approximately US$16.5 million as of Sept. 31, 2008, representing approximately 4 percent of SQM’s consolidated profits. SQM, an integrated producer and distributor of specialty plant nutrients, iodine, and lithium, has sales in over 100 countries.
Transparency Across the Fertilizer Value-Chain