Reuters — Canada’s PotashCorp, set to merge with rival Agrium to withstand a fertilizer slump, reported a smaller-than-expected quarterly profit Thursday and narrowed its full-year forecast, pressuring its stock. Prices of crop nutrient potash have leveled off this year after hitting eight-year lows late last year due to low crop prices and excessive production capacity. […] Read more
Tag Archives agrium — page 2
PotashCorp Q3 profit disappoints ahead of merger
Canada’s antitrust watchdog clears Nutrien merger
Canada’s Competition Bureau will put up no reasons why PotashCorp and Agrium shouldn’t be joined in Nutrien. The federal antitrust regulator on Monday issued a “no action” letter on the all-stock merger-of-equals that Saskatoon’s PotashCorp and Calgary’s Agrium proposed in September last year. The two companies, when merged, are to be headquartered in Saskatoon under […] Read more
Trio of groups proposes Alberta-based agrifood ‘supercluster’
Agrium, Olds College and global satellite communications corporation MDA have submitted an application to the federal government to form an agrifood “supercluster.” The Liberal government committed up to $950 million (over five years) in its March budget to create hubs that would focus on key economic sectors in an effort to kickstart investment, boost exports […] Read more
PotashCorp, Agrium choose new married name
Canadian fertilizer giants Agrium and PotashCorp have picked the new brand under which they plan to do business once their proposed merger clears. Calgary-based Agrium and Saskatoon-based PotashCorp announced Wednesday their new merged company, pending regulatory review and approvals, will be named Nutrien. “The new organization will be the global leader in reliable, low-cost crop […] Read more
Agrium buys polymer maker’s ag chem applications
Fertilizer and ag retail firm Agrium has closed a deal for an Australian polymer maker’s ag chemical business, aiming to put it to work in fertilizer and pesticide application. Calgary-based Agrium said Tuesday it has bought Starpharma Holdings’ agrochemical business for A$35 million (C$35.3 million) via Agrium’s U.S. crop input arm, Loveland Products. The deal […] Read more
Agrium posts smaller-than-expected loss for quarter
Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
PotashCorp notches higher profit as sales climb
Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more
Canpotex aims for ‘material’ potash price bump from China
Winnipeg | Reuters — Canadian potash exporter Canpotex is pressing Chinese buyers to pay a “material” price increase for the fertilizer in their annual supply contract, as spot values in other markets rise off multi-year lows, Canpotex’s chief executive said on Monday. “We’re not interested in some kind of ratcheting down. That is for sure,” […] Read more
Indian regulator warns on Agrium-PotashCorp merger
New Delhi | Reuters — India’s competition regulator said the proposed merger between Agrium and PotashCorp was likely to hurt competition, a government statement said Wednesday. The two Canadian fertilizer producers agreed to merge last September to navigate a severe industry slump by boosting efficiency and cutting costs. Neither Agrium nor PotashCorp have physical presence […] Read more
Agrium forecasts less profitable year than expected
Reuters — Fertilizer maker Agrium, the world’s biggest farm retailer, on Thursday forecast a less profitable year than expected and said its quarterly profit plunged. The Calgary-based company said after normal trading hours that it expects to earn $4.50-$6 per share in 2017. The midpoint of $5.25 fell below analysts’ average estimate of $5.45, according […] Read more
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