Fertilizer volumes off at The Andersons – Alert

While The Andersons said first quarter fertilizer volumes were lower than expected due to poor weather conditions at the start of planting season, the company’s Plant Nutrient Group, which now includes the former Turf & Specialty segment, saw a uptick in income before taxes to $424,000 on revenues of $153.9 million for the first quarter, up from a year-ago loss of $36,000 on sales of $151.3 million.

The Andersons hopes to regain some of the fertilizer business it lost in the first and fourth quarters in the second quarter.

Company-wide, net income sank to $3.94 million ($0.14 per diluted share) on revenues of $950.1 million, down from the year-ago $26 million ($0.80 per share) and $1 billion, respectively.

Agrium 1Q income up – Alert

Agrium Inc. reported 2015 first quarter net earnings of $14 million ($0.08 diluted earnings per share) compared to the year-ago $3 million ($0.02 per share). The higher earnings were supported by strong margins and operating rates for nitrogen products in Wholesale segment, while some first quarter Retail earnings were pushed into the second quarter as a result of the delayed start to the spring season in the U.S. this year. Sales were $2.87 billion, down from $3.08 billion.

In the Wholesale segment, strong nitrogen performance contributed to Wholesale gross profit of $234 million compared to the year-ago $171 million.

Retail gross profit was $371 million down from the year-ago $387-million and was impacted by slow start to U.S. spring season, shifting earnings into the second quarter.

Agrium announced a 12 percent increase to its dividend, now $3.50 per share on an annualized basis.

Agrium first half guidance is $4.75 to $5.25 diluted earnings per share, though the company updated annual guidance to a more narrow range of $7.00 to $8.25 diluted earnings per share from the previous $7.00-$8.50 per share.

BASF inks distribution agreement with Kinetix Solutions – Alert

BASF Corp. reported on May 6 that it has entered into a distribution agreement with Kinetix Solutions LLC, Baton Rouge, La., for the sale of BASF’s gas treatment solvents to the ammonia and syngas industry in the U.S. and Trinidad & Tobago.

"As a leading supplier to the ammonia and fertilizer industry, Kinetix is well positioned to offer the technical expertise, high level of service, and reliable network of industry professionals needed by customers," said Eduardo Padilla, BASF’s director, corporate distribution. "These attributes made them a good choice when we considered a new distributor for BASF’s gas treatment offerings to meet the needs of customers and prospects in the ammonia and syngas industry."

Under the agreement, Kinetix will distribute and provide services for BASF’s PuratreatTM and OASE® family of gas treatment products. BASF said its OASE brand offers state-of-the-art amine based gas treatment technology for gases containing hydrogen and/or carbon dioxide for ammonia and syngas applications. The company’s gas treatment solutions are used globally in some 350 plants, BASF said.

"BASF is an industry leader in process applications and technological development of gas treating solutions in the ammonia and syngas industry," said Jason Danos, Kinetix manager. "We are excited about the opportunity to work with BASF, and we believe that Kinetix’s technical service will continue to promote BASF’s products and services, as well as provide additional resources to its customers."

Kinetix is a privately-owned specialty chemical supply company with satellite offices throughout the U.S. Kinetix offers plant process products, services, and consulting to the industrial chemical sector, and also specializes in nitrogen/ammonia process and water technology, urea ammonium nitrate (UAN) corrosions inhibitors, and the design and development of CO2 removal systems.

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