Reuters — The deepest slump in a decade for the oversupplied potash fertilizer market may abate only slightly in 2017, major producers say, and could take years to correct due to the imminent startup of new mines. PotashCorp, the world’s biggest fertilizer producer, forecast a less profitable year on Thursday than analysts expected, and reported […] Read more
Tag Archives agrium — page 3
Potash prices look lower for longer as competition overheats
PotashCorp to cut jobs, output as prices sag
Reuters — Fertilizer maker PotashCorp said Wednesday it was reducing jobs and output at one Saskatchewan mine and temporarily curtailing production at two others as the sector struggles with weak prices. The company said it would cut production at its Cory potash mine, just west of Saskatoon, to 800,000 million tonnes a year from 1.4 […] Read more
Agrium posts quarterly loss
Reuters – Agrium, the Calgary-based fertilizer maker that’s in the midst of a merger with PotashCorp, reported a quarterly loss Nov. 3. The company reported a net loss from its operations of $52.2 million, or 39 cents a share in the third quarter, which ended Sept. 30. That’s compared to a net profit of $132.5 […] Read more
Agrium/PotashCorp merger set for shareholder approval
Toronto/Winnipeg | Reuters — The shareholders of Agrium and PotashCorp are set to overwhelmingly approve a merger of the two Canadian fertilizer producers, according to a source familiar with the situation, despite initial skepticism from Agrium investors. About 99 per cent of the votes from both groups of shareholders are in favour of the transaction, […] Read more
Agrium, PotashCorp shareholders vote on merger next month
Reuters — Agrium and PotashCorp shareholders will hold separate meetings next month to vote on a merger agreement between the two fertilizer companies, they said in a filing on Thursday. The all-stock deal would combine Potash’s crop nutrient production capacity, the world’s largest, with Agrium’s farm retail network, North America’s biggest. Agrium shareholders will meet […] Read more
U.S. lawmakers skeptical of ag chemical, seed merger wave
Washington | Reuters — U.S. lawmakers expressed concern on Tuesday over a wave of mergers among companies that sell farmers their seeds, herbicides and insecticides, worrying that the deals could lead to higher prices and less innovation at a time of dropping farm incomes. Senator Richard Blumenthal, a Democrat from Connecticut, said the proposed mergers […] Read more
Tough farm conditions right time for merger, Agrium CEO says
Reuters — Plunging crop and fertilizer prices may not have hit rock bottom yet, and the market’s weakness makes it the right time to merge leading farm input suppliers, the CEO of Agrium said on Tuesday, making his pitch to skeptical investors for a US$26 billion union with PotashCorp. “Are we at the bottom yet? […] Read more
Fertilizer merger highlights big-picture concerns
CNS Canada — A multi-billion-dollar merger between two major crop input companies is the latest in a string of consolidation efforts in North America’s agriculture industry, drawing attention again to the possible effects on the value chain. Agrium and PotashCorp announced Monday they plan to combine to create an integrated global supplier of crop inputs, […] Read more
PotashCorp, Agrium make engagement official
The boards of two of the heaviest hitters in Canada’s fertilizer sector have formally agreed to a $47 billion “merger of equals” deal under a new, yet-to-be-named parent company. PotashCorp, the world’s biggest fertilizer company by capacity, and rival Agrium, which is also the world’s biggest crop input retail chain, announced an agreement Monday in […] Read more
Saskatchewan farmers to launch ag retail chain
A Saskatchewan family farm and seed retailing operation is set to become the home base for a new chain of crop input and seed retail stores. Brad Hanmer, who farms and operates Hanmer Seeds at Govan, Sask., about 100 km north of Regina, on Wednesday announced the launch of SynergyAG, which plans to open four […] Read more
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