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CARGILL COMPLETES SEMINOLE PURCHASE

 MINNEAPOLIS, May 4 /PRNewswire/ -- Cargill Fertilizer, Inc., announced today that it has completed the purchase of the phosphate- fertilizer production, mining and working-capital assets of Seminole Fertilizer Corporation, Bartow, Fla.
 "Completing the due diligence process enables us to begin 24-hour operation of the facilities that Seminole was running and to set priorities for incorporating those facilities into Cargill's Tampa operations," said Fritz Corrigan, president of Cargill's worldwide fertilizer activities.
 He said Cargill's top priorities are to bring Polk County operations into conformance with operational procedures and safeguards already used at the Tampa and Fort Meade locations of Cargill Fertilizer, Inc.; to stabilize employment within Bartow fertilizer operations at 400 employees; to integrate more than 100 Seminole employees into Cargill's phosphate-rock mining activities; and to operate the Polk County business in a manner consistent with market demand for phosphate fertilizers.
 The newly acquired operations currently have capacity to product 750,000 tons of phosphoric acid a year, and Cargill annually can produce 830,000 tons of phosphoric acid, Corrigan said. Phosphoric acid is the basic material from which a variety of phosphate fertilizers are produced. The combined production capacity makes Cargill Fertilizer the second-largest U.S. phosphate fertilizer producer with about 14 percent of total production, he said.
 The acquisition include the Bartow phosphate-fertilizer production plant, phosphate-rock reserves at the Seminole mine near Hookers Prairie, Fla., and two ammonia-storage tanks at Port Sutton, Fla.
 Henk Mathot, president of Cargill Fertilizer, Inc., said, "Integration of the Seminole plant and mine with Cargill's current operations will make us a much stronger company in the future."
 Corrigan noted that Seminole's total workforce during previous peak- demand periods had been approximately 800 people, but that existing market conditions had prompted Seminole to place several hundred employees on home leave, with layoffs pending. He said Cargill's planned operational improvements and current market conditions do not warrant a return to peak employment levels.
 Corrigan said he expects approximately 300 production employees and 100 staff employees will work in various Bartow operations, with another 100 employees involved in phosphate-rock mining. Administrative activities are being consolidated into existing functions at the Tampa headquarters of Cargill Fertilizer, Inc.
 Cargill Fertilizer, Inc. is a subsidiary of Cargill. Cargill is an international marketer and processor of agricultural and other bulk commodities with offices with facilities in more than 800 locations employing more than 67,000 people.
 -0- 5/4/93
 /CONTACT: Greg C. Lauser, 612-475-6196 or Gray Gordon, 813-671-6145, both of Cargill/


CO: Cargill Fertilizer, Inc.; Cargill, Incorporated ST: Minnesota, Florida IN: AGR SU: TNM

AL -- MN008 -- 4320 05/04/93 12:16 EDT
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Publication:PR Newswire
Date:May 4, 1993
Words:432
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