President of Yara North America Peter Scott Valesares, 45, passed away in his sleep unexpectedly on April 1st during an overseas business trip in Istanbul, Turkey.

In a statement, Yara said that Pete had worked at Yara since 1994 and was considered one of the bright young leaders in the fertilizer industry. He attended Valparaiso University, and while attending graduate school at St. Xavier University in Chicago, Illinois, Pete began his career with an entry-level position within CF Industries. He quickly developed a sincere interest and care for the domestic fertilizer market, and devoted his entire professional career to the industry.

In 2007, Pete Valesares was appointed President of Yara North America. Pete’s thorough understanding of the industry and his company’s leading position in the nitrogen sector led to unprecedented growth for Yara in the region.

Since his appointment to the top spot, Pete and his management team have constructed and opened two deepwater fertilizer terminals and led the landmark purchase of Saskferco in Canada Yara’s largest investment ever.

“Besides growing our business, Pete touched many lives in a positive way. He will be deeply missed. Our thoughts are with his wife and his two sons,” said Yara’s Head of Downstream Egil Hogna.

Pete is survived by his wife, Janet, and his 15-year-old twin sons, Christian and Peter. He was an avid supporter, volunteer, and coach of youth basketball programs. He was also a three-time finisher of Ironman distance triathlons, including the Ironman World Championship in Kona, Hawaii.

Visitation will take place on Monday, April 11th, from 6 p.m.-8 p.m. at Blount & Curry Funeral Home, 605 South MacDill Avenue, Tampa, FL 33609. A Service of Thanksgiving for the life of Peter Valesares, officiated by the Rev. Dan Brammeier, will be conducted at 11:00 a.m. Tuesday, April 12^th, at the Good Shephard Lutheran Church, 501 S. Dale Mabry Highway, Tampa, FL 33609, with a reception to follow. In lieu of flowers, the family kindly asks that contributions be made to the Peter Valesares Scholarship Fund, which has been established in his memory to assist student athletes at the Tampa Preparatory School in Tampa. Please make donations payable to Tampa Preparatory School, in care of the Development Office, 727 W. Cass St., Tampa, FL 33606.

Yara has appointed Terje Eide for an interim period to run the North America business operation until the position can be filled permanently.

Two companies in Illinois that are part of Growmark Inc.’s FS cooperative system have joined forces. M & M Service Company, Carlinville, and Madison Service Company, Alhambra, officially combined operations of their agricultural supply, retail, and commercial energy and grain marketing organizations on April 1, 2011.

The newly-merged organization is doing business as M & M Service Company and will continue to serve farmers in the west-central Illinois counties of Macoupin, Madison, and Montgomery. The companies have been serving local farmer owners in that service area since 1927.

Brad Klaus, manager of M & M Service Company, will manage the new organization at the M & M headquarters in Carlinville. Klaus told Green Markets the merged company has some 19 locations in the three-county trade area, with a total of 155 employees. There are 19 members on its board of directors.

In addition to a full slate of dry and liquid fertilizer products and precision farming/custom application services, the cooperative handles grain, seed, turf products, propane, and fuel products. It also operates a number of Fast Stop convenience stores within its service area, and offers the FS Agri-Finance credit service to members.

Potash Corp. of Saskatchewan Inc. confirmed last week that while it has looked at a site in Hammond, Ind., for a major rail transfer site, it has not committed to it. PotashCorp also says it has looked at other sites in the Midwest.

“With regard to our having PotashCorp bringing in railcars of fertilizer into Hammond, that has not been decided,” said Tom Pasztor, PotashCorp spokesman. “We have met with city officials, but no agreement has been reached. We are in the very preliminary stages as far as the development is concerned.”

Local officials in Hammond, which is in northwest Indiana and is part of the Chicago metropolitan area, are excited by the PotashCorp interest. “It is a major, major investment that we are talking about at that location,” Hammond Mayor Thomas McDermott Jr. is quoted as telling the local press, with respect to what would reportedly be an $80 million project at the Gibson Yard rail hub. McDermott said PotashCorp was working with the Indiana Harbor Belt Railroad on the project.

There might be a reason McDermott would want the news to come out now. May 3 is primary election day in Hammond, and McDermott is running for re-election.

Hammond Director of Planning and Development Phil Taillon was quoted as saying two other companies are interested in locating there if the deal is finalized, and the total investment could eventually reach $200 million. Neither McDermott nor Taillon returned calls last week. Taillon was also quoted as saying that it would be PotashCorp’s largest transfer facility in North America.

According to the local press, tax incentives are still being negotiated, with the possibility that instead of property taxes the company would make payments that would be used to improve site infrastructure. McDermott was cited as saying that while Hammond wants the deal, “it will not give away the store.”

While McDermott was quoted as saying PotashCorp would have only five to 10 employees at the site, estimates were that railroads would employ 70, and that some 225 would be need for construction.

Indiana Harbor Belt is said to be spending about $800,000 to clear and level 90 acres of Gibson Yard, although one official indicated the work is not for any specific tenant, but is being done in anticipation of future opportunities.

Rentech Inc., Los Angeles, has increased its projection of EBITDA for fiscal year 2011 for its wholly-owned nitrogen fertilizer subsidiary, Rentech Energy Midwest Corp. (REMC), to approximately $75 million from the previous projection of at least $60 million. REMC owns a nitrogen plant in East Dubuque, Ill.

Rentech said REMC, which is favorably located near its customers in the cornbelt region, is benefiting from continuing strong fertilizer demand and pricing, as well as low input costs. As of March 31, 2011, REMC has either delivered, or signed contracts with fixed prices for the sale of, more than 75 percent of REMC’s forecasted deliveries for the fiscal year that will end Sept. 30, 2011, and has already purchased or contracted at fixed prices for the natural gas required to produce that product. Because such a large portion of the year’s projected contribution margin has been pre-contracted, Rentech is confident in projecting record EBITDA.

Rentech has also increased its projection of REMC’s operating income for fiscal year 2011 to approximately $65 million from the previous forecast of at least $50 million.

“We are pleased that REMC’s performance is exceeding our expectations,” said D. Hunt Ramsbottom, Rentech president and CEO. “The cash flow generated at our fertilizer facility helps support our alternative energy business, providing investors with the unique opportunity to invest in two very dynamic industries, both of which have significant growth potential.”

Considering the positive market trends and higher margins for nitrogen fertilizer that REMC has been experiencing, Rentech engaged an engineering firm to evaluate the possibility of expanding REMC’s production and increasing the efficiency of the plant. The feasibility study is expected to take several months to complete, after which Rentech will evaluate the attractiveness of investing in capacity expansion at the plant to meet increased nitrogen demand created by expanded corn acres for the foreseeable future.

Capacity levels at the East Dubuque complex include 332,000 st/y of anhydrous ammonia, 146,000 st/y of urea, 350,000 st/y of UAN, 170,000 st/y of ammonium nitrate, and 144,000 st/y of nitric acid, according to the International Fertilizer Development Center.

For the year ending Sept. 30, 2010, REMC shipped 597,000 st of product with revenues of $128.1 million, compared to the prior year’s 533,000 st and $184.1 million.