Lebanon, Penn.-Lebanon Seaboard Corp. said Dec. 16 that it has acquired the Emerald Isle line of premium foliar and other granular fertilizer products from Milliken Chemical, a division of Spartanburg, S.C.-based Milliken & Co. “Emerald Isle is a highly respected line of products that extends and complements our existing fertilizers and turfgrass offerings,” said Katherine Bishop, president and CEO of Lebanon Seaboard. “These specialized products broaden Lebanon’s ability to address the golf course superintendent’s turfgrass management needs through advanced foliar nutrition.” Bishop said Lebanon will continue to work with Ocean Organics, the Waldoboro, Maine-based manufacturer of seaplant extract and foliar products, to produce key ingredients in the Emerald Isle formulations. Lebanon says Emerald Isle True Foliar products produce excellent turfgrass playing conditions ?Çô consistent surfaces, ideal color, and outstanding turf density ?Çô while providing seaplant extract and other beneficial supplements for root growth, stress tolerance, and disease resistance. Foliar products are widely used to promote healthy growth for closely mowed turf susceptible to disease in stressful conditions. Terms of the agreement between the two privately-held companies were not announced. Lebanon Seaboard manufactures and distributes a broad range of professional turf and ornamental products, as well as a wide variety of consumer lawn and garden items. With more than 60 years experience, Lebanon Turf, a division of Lebanon Seaboard, is a leader in developing practical innovations for the turf and landscape maintenance industry.
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Viterra announces expansion in Alberta
Regina-Viterra Inc. said Dec. 19 that it plans to expand its agri-products retail center at Vermilion, AB. Improvements include increasing its current fertilizer storage capacity and upgrading its dry blending services. “As part of our ongoing commitment to our local customers, we recognized the need to enhance our services in the Vermilion area,” said Doug Wonnacott, senior vice president, Agri-products. “By aligning our footprint to match their needs, we position ourselves to meet growing market demand.” The expansion, which will increase fertilizer storage capacity by 1,200 mt to 2,600 mt overall, is slated to start in the summer of 2009 and scheduled for completion in the fall. The retail center will continue to offer a full range of premium products, including seed, crop protection packages, and equipment.
Viterra gives farmers access to credit
Regina-Viterra Inc. reports that it has pre-approved over 19,000 customers for credit financing to date, totaling over $830 million. “Given the recent media attention surrounding tightening credit markets, it is important for our farm customers to know that our financing, which is backed by Scotiabank, has not been affected by these conditions,” said George Prosk, Viterra senior vice president, financial products. “We expect to extend a total of $1.4 billion in credit by spring of next year. Our competitive rates and repayment terms allow our customers great flexibility to make purchases as they see fit while managing their cash flow requirements.” Viterra offers its customers credit throughout the year to assist with their purchases of farm supplies such as seed, fertilizer, crop protection products, and equipment. Additionally, Viterra offers a financing package through its livestock feed and services division.
Ammonia cloud hits 10 in California
Woodland, Calif.-Hazardous materials investigators are still looking into an ammonia release at about 9 a.m. Dec. 11 from Agriform Farm Supply Inc. that caused at least 10 residents respiratory problems and sent two of them to the hospital for observation. Investigators told Green Markets the Agriform fertilizer manufacturing plant was producing ammonium polyphosphate by combining anhydrous ammonia and phosphoric acid in a reactor when an operator error triggered the release of a hot puff of ammonia. The ammonia drifted for up to a half mile before it was cooled by a weather inversion and dropped back down. Lead investigator Jeff Pinnow, a Yolo County hazard materials specialist, declined to provide more details on the incident, except that the operation was using the so-called “TVA process” developed in the late 1950s, which combines anhydrous ammonia and phosphoric acid with water to make 10-34-0 liquid fertilizer that goes into bulk storage. Pinnow said he expects a final report to be ready in a few days. No one was available to answer questions at the Agriform plant, but Yolo County Director of Environmental Health Bruce Sarazin reported that Agriform has had numerous releases in the past and was ordered to stop the operation until the problem was corrected. “They brought in new equipment, and then had another release,” Sarazin said. “There’s at least a possibility of citations, but they’re a good local business and we don’t want to run them out of town. Still, they need to understand their responsibility handling toxic gas.” Woodland Fire Battalion Chief Ken Bechtold said that Agriform had all necessary air quality permits to perform the ammonium polyphosphate process within legal limits. “They’ve been doing this operation for 20 years,” Bechtold said. “But the weather conditions were just wrong for what they were doing. The cold air inversion didn’t allow the cloud to dissipate and some of the ammonia condensed and came back down.”
Agrium declares dividend
Calgary-Agrium Inc. has declared a dividend of five and one half cents U.S. per common share to be paid on January 15, 2009, to shareholders of record on Dec. 29, 2008. All dividends paid by Agrium are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.
Mosaic gets second chance on Altman tract in Fla.
Bradenton, Fla.-The Mosaic Co. will get a second chance to win approval of its plan to mine the 2,050-acre Altman Tract after the Manatee, Fla., County Commission voted 5-2 last week to reconsider its earlier rejection of the project. The county’s attorney told commissioners Mosaic may be able to successful argue in court that it had been denied its property rights under the Bert Harris Act. On Sept. 16, the county commission agreed with environmental groups that the project could damage water quality in the Peace River watershed and destroy valuable wetlands, although other state and federal agencies had given their approvals. The company said the rejection could cost it more than $600 million in lost mining revenues. A public hearing will be held on Jan. 15.
Fertilizer spill in two-train rail wreck
Dresbech, Minn.-Canadian Pacific Railway crews cleared most of the wreckage from the rail line near here only a day after two freight trains collided around 5 a.m. Dec. 17 on tracks running alongside the Mississippi River. The accident, which tipped one of the engines into a shallow part of the river, resulted in the spilling of as much as 10,000 to 20,000 gallons of liquid nitrogen fertilizer from one of three derailed tanker cars. Although the situation was contained immediately after the crash and product was being transloaded onto other rail cars, two of the cars shifted and the contents were spilled into the river. The liquid fertilizer had been identified as 35 percent nitrogen, but CP spokesman Mike LoVecchio could not confirm this. A propane tank at a switching station was also reported to have leaked, and some 25 people, most of whom were at a nearby veterans home, were evacuated as a precaution. The wreck was also disrupting passenger train service in this area and traffic on the nearby interstate, but LoVecchio told Green Markets that cleanup crews made encouraging progress overnight at the site so that track reconstruction can begin as soon as possible. He said the two trains, one with two locomotives and the other with three, were at the switch where their tracks come together when the collision occurred, but he said the actual cause is still under investigation by the railroad. The result was that 13 cars from each train derailed, sending one of the engines into a shallow part of the river but landing still upright. “We are monitoring both engines and we have an environmental team on site,” LoVecchio reported. He said two CP employees were taken to the hospital as a precaution, but neither was found to be injured.
Eastman makes cuts; credit an issue at Beaumont
Kingsport, Tenn.-Eastman Chemical Co. said Dec. 17 that it plans a series of actions to respond to the current economic conditions, including the reduction of costs by over $100 million in 2009. Of this, $80 million will be labor related. “Given the sudden and dramatic deterioration of the global economy, we are slowing work on some of our projects as it makes sense to do so,” said Brian Ferguson, Eastman chairman and CEO. “We continue to believe, however, that the company is well positioned to weather this current economic crisis, and that we can successfully manage costs while pursuing our plans for growth.” While the company said that many aspects of its major gasification project at Beaumont, Texas, are going well, it says two aspects are challenging: capital cost and the financing environment. “On capital cost, we recently did an interim check step and the estimate was too high,” an Eastman spokesperson told Green Markets, “so we chose to slow down our work and focus on process simplification and optimization; as a result, our process design has improved and we firmly believe underlying engineering and capital costs are coming down; we expect to complete our front-end engineering and design (FEED) estimate by mid-year 2009. On project financing, the extra time for FEED to be completed should give the credit markets some time to settle down. Our next update on this project will be during our 2009 Investor Day in February.” Eastman agreed to buy the Beaumont facility from Terra Industries Inc. back in 2007, and had earlier hoped to have non-recourse project financing complete for the project by the end of 2008. Plans at that time called for a $1.6 billion gasification project to be online in 2011 using petroleum coke to produce hydrogen, ammonia, and methanol.
Spectrum delisted; patent lawsuit settled
New York City-NYSE Regulation Inc. announced Dec. 15 that the common stock of Spectrum Brands Inc. should be suspended from trading on the New York Stock Exchange prior to market opening Dec. 22, 2008. NYSE Regulation noted that the decision to suspend the stock was reached in view of the fact that the company has recently fallen below the NYSE’s continued listing standard regarding average global market capitalization over a consecutive 30 trading day period of not less than $25 million, the minimum threshold for listing on the NYSE. Spectrum is currently quoted on the Pink Sheet Electronic Quotation Service, and the company may also pursue quotation on other stock quotation systems. However, there can be no assurances that a broker-dealer will make a market in its common stock. This transition to the over-the-counter markets does not change the company’s SEC reporting requirements. Spectrum had been warned about the danger of delisting both from a capital standpoint and the fact that its shares had dropped below $1.00 (GM Nov. 24, p. 1). Spectrum had earlier announced it was closing its Sylacauga, Ala., fertilizer plant and was winding down its fertilizer and growing media business by Jan. 31, 2009. In other news, Energizer Holdings Inc. said Dec. 15 that it has dismissed a patent infringement suit against Spectrum after reaching a settlement with the company. On Oct. 31, a judge had issued a preliminary injunction requiring Spectrum to withdraw its Rayovac lithium battery products from the market and to refrain from further sales. The amount of the settlement was not announced.
Pelletizing resumes at Quincy fertilizer plant
Quincy, Mass.-Fertilizer pellet production has resumed at the Massachusetts Water Resources Authority Deer Island water treatment plant for the first time since a smoldering fire in the ductwork shut down operations in late October. “We were able to start making pellets again on Dec. 8,” MWRA spokeswoman Ria Convery told Green Markets. Acting Quincy Fire Chief Joseph Barron told the local press that he had inspected the plant, and he was “satisfied now that they are committed to safety and fire safety at the plant.” Workers have been cleaning or replacing much of the ductwork where the fire started, Convery confirmed. She said the plant would operate at half-capacity until additional work is completed. Since the fire halted pellet production, MWRA has had to route sludge trucks to local landfills and at one point was considering shipping by railcars to a disposal site in Utah. “The good news is the operations are safe and we’re not going to have any more of the truck traffic,” City Councilor Daniel Raymondi was quoted as saying. New England Fertilizer Co., which handles the pelletizing and marketing, has agreed to install a sprinkler system in the duct work and replace certain pipes. It intends to reimburse the city for fire department expenses.