Agrium Concludes Nu-Gro Acquisition.CALGARY, Alberta -- ALL AMOUNTS ARE STATED IN U.S.$ Agrium Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AGU AGU Aoyama Gakuin University, Tokyo, Japan AGU American Geophysical Union AGU Arabian Gulf University (Bahrain) AGU All Grown Up (TV show) AGU Aguascalientes, Aguascalientes, Mexico ) (NYSE NYSE See: New York Stock Exchange :AGU) announced today that it has concluded the purchase from Spectrum Brands Inc. of its Nu-Gro fertilizer technology and professional products businesses. Agrium will fund the purchase price of $86-million (U.S.$) from cash on hand. Details of the acquisition were announced previously on November 23, 2005. This acquisition is expected to boost Agrium's sales and earnings in the growing specialty fertilizer segment and provide sufficient critical mass to form a new Strategic Business Unit. "With the addition of Nu-Gro, we enhance our position as a leader in controlled release fertilizers and add another stable earnings stream to our portfolio of businesses and products," said Mike Wilson Mike Wilson could refer to the following people:
"We are looking forward to adding Nu-Gro's employees, products, and brands to Agrium, all of which are highly regarded within the industry," concluded Mr. Wilson. About Nu-Gro: Fertilizer Technology and Professional Products Divisions Nu-Gro produces and distributes controlled release and professional turf products, with total annual sales of approximately $80-million and average gross margins of about 24 percent. The controlled release nitrogen products include branded products, Nitroform(R), Nutralene(R), SCU SCU Santa Clara University SCU Southern Cross University (New South Wales, Australia) SCU Southern California University of Health Sciences (Whittier, California) SCU Serious Crimes Unit SCU Special Care Unit (R) and IB Nitrogen that are marketed to finished product producers for use on golf courses, sport turf, home lawns, high yield agricultural crops, nurseries and in greenhouses. The professional turf products, Proturf (R) Professional Turf Products, Nu-Gro and Par Ex (R), are marketed directly for use in golf course and lawn care applications. Additional information on Nu-Gro may be found on Agrium's website: www.agrium.com. About Agrium Agrium Inc. is a leading global producer and marketer of agricultural nutrients and industrial products and a major retail supplier of agricultural products and services in both North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash potash: see potassium carbonate. potash Name used for various inorganic compounds of potassium, chiefly the carbonate (K2CO3), a white crystalline material formerly obtained from wood ashes. as well as controlled release fertilizers and micronutrients This is a list of micronutrients. Vitamins
Certain statements in this press release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties, including those referred to in the management discussion and analysis section of the Corporation's most recent annual report to shareholders, which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the successful integration of Nu-Gro's business, weather conditions, the future supply, demand, price level and volatility of natural gas, future prices of nitrogen, phosphate and potash, the differential pricing of natural gas in various markets, the exchange rates for U.S. and Canadian currencies, future fertilizer inventory levels, future nitrogen, potassium and phosphate consumption in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , future crop prices, future levels of nitrogen imports into North America and future additional fertilizer capacity and operating rates, assumptions pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the continued market growth, asset valuation and financing arrangements. Agrium disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events. AGRIUM INC. (TSX:AGU) (NYSE:AGU) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion