Yara acquires remaining shares in Yara Nipro

Oslo, Norway-Yara International ASA has exercised a call option and purchased the remaining 60 percent of shares in Yara Nipro Pty Ltd. from the founders. Yara Nipro is the market leader in bulk liquid fertilizers for many crops in Eastern Australia, and sales volumes have increased by 125 percent since Yara purchased a 40 percent ownership in January 2008. Yara Nipro represents a business that is complementary to the already strong position held by Yara within the horticultural segment in Australia, and Yara Nipro’s operations will be integrated with those of Yara Australia. Yara Nipro has concentrated on irrigated high productivity agriculture and high performance large-scale farms, and in more recent years expanded operations into horticulture, wheat, and sugar cane. With only about 3 percent of the fertilizer in Eastern Australia supplied by liquids, there is huge potential for further growth. “Yara Nipro’s unique liquid fertilizer concept makes it particularly attractive in regions of water scarcity like many parts of Australia. The innovative technology and business model fits well with Yara’s aim to provide the best crop nutrition solution for the global challenges facing farmers today,” says Head of Yara Downstream Egil Hogna. In the financial year ending June 2010 Yara Nipro had a turnover of A$46 million and an EBITDA of A$5.6 million.