Cairo-Orascom Construction Industries (OCI) and FITCO International S.A. have decided to expand their existing strategic alliance by establishing a joint venture in Brazil to trade and distribute fertilizer products supplied by the OCI Fertilizer Group. FITCO is a leading fertilizer trading company, with a strong market position in the Brazilian market and a growing presence in several South American markets. In March 2009, OCI and FITCO signed an agreement for the supply and import of urea into Brazil. Year-to-date, OCI and FITCO have supplied a substantial share of nitrogen fertilizer needs in Brazil. OCI says the new jv is a major part of its strategy to establish long-term partnerships with key distributors in strategic import markets and to implement its direct sales into the Brazilian market. “The strategic alliance agreement announced earlier this year for the supply of granular urea fertilizer to the Brazilian market has been very successful,” said OCI CEO Nassef Sawiris. “By creating this new jointly owned trade and distribution business, we have strengthened our partnership with FITCO, which will enable OCI to have a permanent presence in Brazil.” FITCO Managing Director Marcelo Simionato said the new jv will provide a platform for further growth in Brazil and potentially other South American markets.
Transparency Across the Fertilizer Value-Chain