The Mosaic Co. has announced plans to sell its assets in Argentina and Chile. “After significant evaluation and review, Mosaic has decided to pursue a sale of our operations in Argentina and Chile,” the company said in a statement. “We will immediately begin preparations for a sale process and will work quickly to complete a transaction. Mosaic will continue running our business until a sale is completed.”
Mosaic’s major asset in Argentina is a facility in Rosario, north of Buenos Aires, which its website lists in the category warehouse/blender/port/production. Mosaic said it has 107 employees in Argentina. The local press estimated Mosaic’s Argentina sales at over $300 million and said the company is a major supplier of phosphates in the country. Mosaic did not provide further details. Mosaic does not list significant production assets in Chile, and that business is believed to be mainly distribution.
By contrast, Mosaic recently detailed plans to invest some $300 million for a five-year expansion of its business in Brazil (GM Oct. 14, p. 1).