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Article: Terra Announces Agreement to Purchase Canadian Nitrogen Production Assets.
- Article from:
- Energy Weekly News
- Article date:
- November 6, 2009
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Terra Industries Inc. ("Terra") (NYSE: TRA) announced that it has signed an agreement to purchase a 50% interest in Agrium Inc.'s ("Agrium") (TSX and NYSE: AGU) Carseland, Alberta, Canada nitrogen production assets and certain U.S. assets for a purchase price of approximately US$250 million. The Carseland facility has the capacity to produce approximately 590,000 short tons of gross ammonia and approximately 750,000 short tons of granular urea per year.
The purchase would provide Terra with important financial and strategic benefits, including greater exposure to cost-advantaged natural gas, a more diverse geographic footprint in North America, and ownership in a ...