Agrium Signs Agreement to Acquire Ownership of Astaris Assets at Conda, Idaho.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Oct. 8, 2003 Agrium Inc. (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 )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : AGU) - Agrium Inc. announced today that its subsidiary, Nu-West Industries Inc. ("Nu-West") has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. ("MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ") with Astaris Production LLC ("Astaris") to acquire ownership of certain Astaris assets and liabilities related to Astaris's decision to cease production of purified phosphoric acid at Agrium's Conda, Idaho phosphate operation. The MOU does not contemplate a cash payment by Agrium. The transaction is subject to the execution of a formal agreement, expected to be completed within 30 days. The future operating profitability of Agrium's Conda Phosphate Operation is not expected to be materially impacted by this transaction. 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 America and Argentina. Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash and micronutients. 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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