Calgary-Agrium Inc. said Aug. 8 that it has concluded the purchase of certain fixed assets and inventory of Pursell Technologies Inc. (PTI) and certain of its affiliates for a purchase price of US$74.5 million (GM June 26, p. 1). Agrium had already achieved regulatory approval. Agrium has also purchased patented technology for emerging non-fertilizer controlled release products, such as specific crop protection products, for the consideration of $12.5 million plus contingent payments based on a percentage of future sales. The PTI assets, the recently acquired Nu-Gro, and Agrium’s pre-existing specialty products will be combined to create a new Specialty Products Business Unit to optimize the stable and growing earnings from this segment. The acquired assets will be operated under the name Agrium U.S. Specialty Products.
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