Yara plans aquiring Borealis’ ownership in urea plant located in Le Havre

Yara to acquire stake in Borealis’ urea plant in Le Havre, France

7:39 AM, 18th June 2014
Yara business news

OSLO, NORWAY: Yara has accepted an offer from Borealis to acquire Borealis’ ownership in urea plant located in Le Havre, situated on the north-west coast of France. Yara currently holds 47.85 per cent in the 320,000 metric tonne per annum urea production facility and 100 per cent in 400,000 metric tonne per annum ammonia production facility.

The acquisition will simplify overall management of the facility to the benefit of Yara’s activities in France and in Europe, and will allow greater flexibility and optimization of the site.

Access to an additional 160,000 metric tonne urea per annum will allow Yara to expand its sales to industrial customers in markets such as nitrogen oxide abatement (DeNOX), AdBlue and the animal feed sector. The agreement with Borealis includes a urea supply agreement during a transition period.

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