Agrium Inc., Calgary, AB, announces it has entered into an agreement to acquire certain fixed assets and inventory of Pursell Technologies Inc.

Agrium Inc., Calgary, AB, announces it has entered into an agreement to acquire certain fixed assets and inventory of Pursell Technologies Inc. and PTI for a purchase price of $74.5 million. The PTI acquisition is expected to increase Agrium's sales and earnings in the growing and environmentally friendly specialty fertilizer business.

Agrium has pioneered the development of cost-effective controlled release fertilizer products for use in broad acre crop applications, and this transaction is expected to further support that effort. Agrium Intends to combine the sales and earnings from the PTI acquisition with those of its other specialty fertilizer products into a new business segment.