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Article: Agrium buys Unocal's fertilizer interests.(Brief Article)
- Article from:
- Nitrogen & Methanol
- Article date:
- March 1, 2000
CopyrightCOPYRIGHT 2000 BCInsight LTD. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Agrium has agreed to buy the nitrogen-based production and distribution businesses of the Union Oil Company of California (Unocal). Agrium is paying $325m for the businesses, which include $73m of net working capital, in a mixture of shares, bonds and cash. Unocal will also be eligible for an annual payment for up to six years if ammonia and urea prices rise beyond a certain agreed level.
Unocal's fertilizer sites are all on the US Pacific coast; California, Oregon, Washington State and Alaska. The Kenai, Alaska complex has production capacity of 590,000 t/a of excess ammonia and 1,000,000 t/a of urea. In the lower 48 states, there are ammonia, AN ...