Agrium Enters Auction For Farmland's U.S. Nitrogen Assets.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--March 24, 2003 Agrium Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension and NYSE NYSE See: New York Stock Exchange : 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 ) announced that on March 21, 2003, it submitted a qualifying bid for the U.S. nitrogen asset auction conducted by Farmland Industries Inc. scheduled to commence March 26, 2003. The assets for sale include nitrogen production plants in Beatrice, Nebraska Beatrice is a city in Gage County, Nebraska, 40 miles (64 km) south of Lincoln on the Big Blue River. The surrounding region is rich agricultural country. Settled in 1859, Beatrice was incorporated as a town in 1871 and became a city two years later. ; Dodge City, Kansas; Enid, Oklahoma and Fort Dodge, Iowa Fort Dodge is a city and county seat of Webster County, Iowa, United States, situated on the Des Moines River. The population was 25,136 at the 2000 census. Fort Dodge is a major commercial center for North Central and Northwest Iowa. It is located on U.S. Routes 20 and 169. along with certain other storage and distribution assets. Agrium's entry to the auction required a bid to be submitted of at least 103.5 percent of the lead bid. Agrium's bid was $22-million in cash, the assumption of $33-million of lease obligations and the purchase of inventory at closing. Agrium Inc. is a leading global producer and marketer of fertilizer and a major retail supplier of agricultural products and services in both North America and Argentina. Agrium produces and markets four primary groups of fertilizers: nitrogen, phosphate, potash and sulphur. Agrium's strategy is to grow through incremental expansion of its existing operations and acquisitions as well as the development, commercialization and marketing of new products and international opportunities. |
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