All Posts from April 26, 2019

Bruce Oakley to Purchase Lange-Stegmann

Breaking Industry News

Bruce Oakley Inc., North Little Rock, Ark., announced on April 26 that it has signed a definitive agreement to purchase the Lange-Stegmann Company (LSCO), St. Louis, Mo. The companies expect to close the sale on or around May 31, 2019. Terms of the transaction were not disclosed. Patrick Nolan of Nolan & Associates represented LSCO in the sale.

LSCO was founded as Lange Brothers Fertilizer in 1926 by brothers Henry and Dewey Lange. The company today operates a fertilizer and bulk commodity handling terminal on the Mississippi River, and is currently led by Rich Stegmann and Mike Stegmann. At the time of some facility upgrades completed in 2017 (GM July 14, 2017), LSCO reported that it had some 113,000 st of covered dry fertilizer storage and 30,000 st of liquid storage at the northernmost port on the Mississippi River open to year-round barge access.

Bunge Limited – Management Brief

Management Briefs

Bunge Ltd., White Plains, N.Y., has named Gregory Heckman, 56, as its permanent CEO. He has been acting CEO for three months. Heckman became a Bunge director in October 2018 as part of a board overhaul precipitated by activist investors, and took over from Soren Schroder as CEO in January.

Heckman has more than 30 years of experience in the agribusiness and food sectors. He previously served as CEO of Gavilon and in senior executive roles at ConAgra Foods.

Compass Minerals – Management Brief

Management Briefs, Specialty

Compass Minerals, Overland Park, Kan., said on April 23 that Kevin S. Crutchfield will become the company’s president and CEO and serve as a member of its board of directors, effective May 7, 2019. He joins Compass Minerals with more than 30 years of mining experience, most recently as CEO of Contura Energy Inc., a publicly-traded coal producer.

Former Compass Minerals President and CEO Fran Malecha left the company in November (GM Nov. 21, 2018)

“After a comprehensive search, our board is delighted to welcome Kevin to Compass Minerals, and believes his proven track record as a CEO and his extensive mining experience will be critical both operationally and strategically as the company moves forward,” said Chairman and interim CEO Dick Grant. “We look forward to working with Kevin to create value for our shareholders.”

Crutchfield has served as CEO and member of the board of Contura Energy since the company’s inception in 2016. Previously, he served as chairman (2012-2016) and CEO (2009-2016) of Alpha Natural Resources Inc., a coal producer. From 2003 to 2009, he held roles of increasing responsibility at Alpha.

Prior to Alpha, he spent over 15 years working at natural gas, coal, and gas producers. He currently serves on the board of directors of Contura, as well as Coeur Mining Inc., a publicly traded precious metals producer from which he is stepping down on May 14, 2019.

He holds a B.S. in Mining and Minerals Engineering from Virginia Polytechnic Institute and State University. He also completed the Executive Program at the University of Virginia Darden School of Business.

Effective May 7, and as previously disclosed, Grant will revert to his role as non-executive chairman of the board. With Crutchfield’s appointment, the board will now be comprised of 10 members.

United Services Association – Management Brief

Management Briefs

Des Moines-based United Services Association (USA) reports that President and CEO Mark Morrissey has announced that he will retire at the end of the calendar year. He joined USA as President in 2000 and has been involved in the crop nutrient industry throughout his career.

“Our organization has thrived under Mark,” said USA Chairman Troy Upah. “His knowledge of procurement and risk management has been a key asset for our association, and our members have trusted his leadership for many years.”

Morrissey is a native central Iowan. He earned his Bachelor’s degree in Agricultural Business from Iowa State University and an Executive MBA from Rockhurst College in Kansas City.

A national search for Morrissey’s replacement is being conducted by Francis & Associates of West Des Moines, Iowa.

USA is a member-owned association comprised of agricultural-based cooperative retail entities.

CHS Inc. – Management Brief

Management Briefs

CHS Inc., Inver Grove Heights, Minn., said on April 23 it has named Jason Marthaler as Vice President, Commodity Risk Management and Supply Chain, for its Country Operations division.

“Jason joins us at a pivotal time for Country Operations as we look to execute on strategies that help us link the core businesses of CHS closer to the farm acre and create maximum value for producers,” said Rick Dusek, Executive Vice President, CHS Country Operations. “He brings the right experience to help us serve farmers better and make CHS their first choice.”

Marthaler was most recently CHS Agronomy’s Director of Trading, Supply, and Risk Management. He started his 15-year career with CHS trading spring and hard red winter wheat, moving through the Global Grain Marketing division in progressively responsible merchandising roles.

Marthaler currently represents CHS on the country elevator committee for the National Grain and Feed Association. In the past, he has been active in the North American Export Grain Association, serving on its biotechnology committee, and has served on the Ardent Mills advisory board.

Nufarm Americas Inc. – Management Brief

Management Briefs

Crop protection provider Nufarm Americas Inc., Morrisville, N.C., on April 23 announced the hiring of Chris Bowley as Customer and Brand Marketing Manager for broadacre products, including the Panther brand family of selective herbicides, Credit® Xtreme with dual salt glyphosate technology, and Gin Out™ cotton plant growth regulator.

The company said he brings more than 25 years of agricultural and manufacturing experience to the role, most recently with UPL, where he was responsible for product management of agricultural herbicides. In addition, he has prior experience with FMC Corp. and Cheminova Inc. He holds undergraduate and graduate degrees in biological sciences from Thames Valley University in England.

BASF Selects Quadra for Micronutrient Distribution in Canada

Canada, News, News Briefs, Specialty

BASF Canada, Mississauga, Ont., signed an agreement with Quadra Chemicals Ltd., Vandreuil-Dorion, Quebec, a chemical and ingredient distributor, to represent its portfolio of micronutrients products in Canada, effective March 1, 2019. BASF’s AgChem Additives offers a portfolio of liquid and solid chelated micronutrients for customers in the agriculture industry.

“Quadra’s industry knowledge, customer-focus, and capabilities make them the ideal partner to distribute our micronutrients products in Canada,” said Jerome de Lapeyre, BASF Canada’s Head of Distribution & Market Development. “This strategic partnership will enable us to efficiently service the market and our customers in Canada.”

“Quadra is proud to represent BASF, a global producer of high-quality micronutrients,” said Fraser McIntyre, Quadra Industry Manager, Soluble Fertilizer. “As a complement to our existing high-quality product offerings, focused sales team, and technical support, we look forward to meeting the diverse micronutrient needs of Canada’s growers from coast to coast.”

Founded in 1976, privately-held Quadra said it is the third largest chemical distributor in Canada and the eighth largest in North America. It distributes a broad range of products, including several types of fertilizer.

Arab Potash Co. – Management Brief

Jordan, Management Briefs, Potash

Arab Potash Co.’s (APC) board has appointed Dr. Maan Fahad Al Nsour as its new President and CEO, effective April 23. Al Nsour served as First Advisor for Business Development and Strategies of the company and Chairman of APC subsidiary Al Namira Mixed Salt Co. He also was a member of APC’s board of directors from August 2013 to 2017.

Al Nsour currently serves on the board of directors of APC subsidiaries or affiliates Fertilizers and Chemical Industries Co. (KEMAPCO),Jordan Bromine Co., and Jordan Industrial Ports Co. He is a member of the board of directors of the Jordan Chamber of Industry, representing the mining industry in Jordan after winning the council elections in 2018.

APC’s former president and CEO, Brent Heimann, a legacy Potash Corp. of Saskatchewan Inc. executive, held the position since 2014 after serving as the Jordanian company’s General Manager since 2013, an office he held previously from 2003-2007.

Saskatoon-based Nutrien Ltd. completed the sale of its minority equity investment – an approximate 28 percent holding – in APC to China’s state-owned SDIC Mining Investment Co. Ltd., Beijing, last October (GM Oct. 26, 2018). The sale of the holding was required by the Competition Commission of India and Ministry of Commerce in China in providing their clearance for the merger of PotashCorp. and Agrium Inc. to form Nutrien.

Nachurs Fertilizers for Use with Herbicide Tech

News, News Briefs, Specialty

Nachurs, Marion, Ohio, announced on April 22 the approval of six nutritional formulations for use with Bayer’s XtendiMax® with VaporGrip® Technology. These formulations include micronutrient products as well as slow-release nitrogen and NPK products, all of which are powered by soluble Nachurs Bio-K® technology. Approved products include K-fuel®, playmaKer®, N-Rage® Max, Finish Line®, 6 Percent Mn EDTA, and 10 Percent Boron.

“Today’s high-yielding crops require more available potassium to meet nutrient demands,” said Tommy Roach, Nachurs Director of Specialty Products and Product Development. “Being able to provide plant nutrition while simultaneously applying chemicals is a great way to improve plant health, enhance nutrient use efficiency, and elevate crop productivity at the same time.”

Kalium Completes Cornerstone Investment

Australia, News, News Briefs, Specialty, Sulfate of Potash

Junior sulfate of potash producer Kalium Lakes, Balcatta, Western Australia, said on April 23 that it has completed the conditional cornerstone investment of A$20.8 million (US$14.8 million) (GM April 5, p. 26) from Greenstone Management (Delaware) II LLC in its capacity as general partner of Greenstone Resources II (Australia) Holdings LP with respect to Kalium Lakes’ Beyondie Sulfate of Potash Project.

The company has issued 28,401,101 new fully paid ordinary shares at an issue price of $0.44 per share. Greenstone now holds 47,305,558 shares, or 19.8 percent of total issued shares. The company will hold a shareholders meeting on May 21 for shareholder approval of the ratified shares.

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