K+S acquires 30 pc stake in Saudi’s fertiliser producer

K+S acquires 30 pc stake in Saudi’s fertiliser producer

9:43 AM, 19th December 2016

KASSEL, GERMANY: K+S AG has signed an agreement to acquire a 30 percent stake Al-Biariq for Fertilizer Plant Co Ltd (Al-Biariq), a fertiliser producer in Saudi Arabia.

Through this deal, K+S is seeking to participate in the growth of the Middle East, Africa and South Asia, particularly in the fertigation segment (use of fertilisers in irrigating systems).

Al-Biariq is a manufacturer of fully soluble potassium sulphate, which is used for the liquid fertilisation of fruit and vegetables, amongst other applications. Al?Biariq’s highly modern production facilities on the Red Sea have an annual capacity of 20,000 tonnes (SOP water-soluble), which is set to double to 40,000 tonnes in the near future.

As part of the agreement, K+S will in future take over the distribution and marketing of the fertilisers produced by Al-Biariq. Additionally, K+S has acquired an option to purchase a further 30 percent in Al-Biariq within two years of completing the transaction (closing), which is scheduled for the second quarter of 2017.

K+S produces potassium sulphate fertilisers (including KALISOP) from natural deposits at the Werra site in Hesse. The synthetically manufactured potassium sulphate (SOP water-soluble) by Al-Biariq in Saudi Arabia provides a welcome addition to the K+S product range with a fully soluble potassium sulphate, which is primarily used in fertigation.

Following the acquisition of fertiliser activities in China (Magpower), this investment in marks another step for K+S towards expanding and strengthening the speciality business in the potash and magnesium products business unit this year.

“In line with our management agenda, we are further strengthening the speciality business in the potash and magnesium products business unit through this investment and can offer an even broader product portfolio in the future,” said Norbert Steiner, chairman of the board of executive directors of K+S.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Saudi Aramco breaks ground for new research centre at KAUST

THUWAL, SAUDI ARABIA: Saudi Aramco broke ground for a new, state-of-the-art research centre at King Abdullah University of Science and Technology (KAU ...

Read more
Shell sells its Australian aviation business for $250 million

THE HAGUE, NETHERLANDS: Royal Dutch Shell plc has signed an agreement with Viva Energy Australia Pty Ltd (Viva Energy) for the sale of Shell Aviation ...

Read more
WAGNER at Surface & Coating Expo 2016

In an interview, Rajendra Mainkar, Business Development Manager-West, WAGNER Industrial Solutions, with Shivani Mody from WOC TV, talks about the coat ...

Read more
BASF to open first construction chemicals plant in Myanmar

LUDWIGSHAFEN, GERMANY/ YANGON, MYANMAR: BASF said that it is planning to open its first manufacturing plant in Myanmar in 2017. The plant will be loca ...

Read more
ExxonMobil’s outlook forecasts 25 pc increase in energy demand

IRVING, US: The increase in global population growth and economic growth is driving the energy demand growth of about 25 percent from 2015 to 2040, ac ...

Read more
Rosneft, Marubeni, MHI to conduct feasibility study for gas chemical facility in Russia

MOSCOW, RUSSIA: Rosneft, Marubeni Corporation and Mitsubishi Heavy Industries Ltd (MHI) have signed a cooperation agreement on a joint feasibility stu ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X