Yara International ASA, Oslo, said Sept. 24 that it is evaluating strategic options for the Yara Marine Technologies (YMT) business, including a potential sale. Yara noted that it has a long history of adjusting its portfolio when the conditions are right.
Yara is currently evaluating different options for YMT, and no decisions have yet been made regarding its future ownership. It said the YMT business is performing strongly, and will continue to operate and invest according to its current plans. Yara says YMT business offers a complete SOX and NOX abatement solution portfolio to the marine segment, and is among the world’s top three scrubber suppliers, well positioned for growth as the new IMO marine sulfur emission regulations come into force in 2020. YMT sales are set to triple compared with 2017, to reach more than NOK 700 million in 2018, and are expected to double from 2018 to 2019.
Yara updated the revenues figures from the earlier release to NOK 700 million in 2018 from NOK 450 million.