Printer Friendly

CHEVRON CHEMICAL AGREES TO SELL PHOSPHATE FERTILIZER BUSINESS

    CHEVRON CHEMICAL AGREES TO SELL PHOSPHATE FERTILIZER BUSINESS
    SAN RAMON, Calif., Nov. 5 /PRNewswire/ --  Chevron Chemical Co., a wholly owned subsidiary of Chevron Corp., today signed an agreement to sell its phosphate fertilizer business to FS Industries.
    FS Industries, a limited liability company, is a joint venture between Farmland Industries, an agricultural co-op based in Kansas City, Mo., and J.R. Simplot, a large privately owned company based in Boise, Idaho.
    Completion of the sale is expected by year's end, subject to certain closing conditions.  Terms of the sale have not been disclosed.
    The sale includes Chevron Chemical's phosphate mine in Vernal, Utah; its fertilizer plant in Rock Springs, Wyo.; and a pipe line owned by Chevron Pipe Line Co. that connects the two.  The Vernal facility mines phosphate rock, then grinds and shuttles the slurry via pipeline to Rock Springs, where it's processed into fertilizer. Annual sales of the business are about $100 million.
    Most of Chevron Chemical's phosphate-business employees will be offered jobs by the purchaser.  Employees not hired by FS Industries will, wherever possible, be offered jobs elsewhere in Chevron, or will be given severance packages.
    Chevron Chemical continues negotiations for the sale of its nitrogen-fertilizer business.
    Chevron Chemical manufactures industrial chemicals, plastics and Ortho home and garden products.
    -0-                      11/5/91
    /CONTACT:  Mike Libbey of Chevron, 415-894-4440; Bill Matteson of Farmland, 816-459-6312; or Fred Zerza of Simplot, 208-389-7337/
    (CHV) CO:  Chevron Corp.; Farmland Industries; J.R. Simplot ST:  California IN:  OIL SU:  TNM JL -- SF005 -- 1436 11/05/91 17:29 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1991
Words:257
Previous Article:SIZELER PROPERTY INVESTORS COMPLETES OFFERING OF COMMON STOCK
Next Article:CIPRICO ANNOUNCES FOURTH QUARTER PROFITABILITY; YEAR-END RESULTS REPORTED
Topics:


Related Articles
UNOCAL CORP.'S SUBSIDIARY, UNION OIL COMPANY OF CALIFORNIA, COMPLETES PURCHASE
UNOCAL CORP.'S SUBSIDIARY, UNION OIL COMPANY OF CALIFORNIA, COMPLETES PURCHASE
IMC FERTILIZER COMPLETES SALE OF AMMONIA PLANT TO KOCH INDUSTRIES, MAKES ACCOUNTING CHANGE
IMC FERTILIZER SIGNS AGREEMENT TO BUY CONSERV PHOSPHATE PLANT
IMC FERTILIZER CAUTIONS SHAREHOLDERS 'WEAK PRICES CLOUD SHORT-TERM OUTLOOK'
SEMINOLE FERTILIZER APPOINTS ANTHONY GERARD, CHIEF EXECUTIVE OFFICER
CARGILL COMPLETES SEMINOLE PURCHASE
Steven J. Demetriou Joins IMC Global as President of IMC-Agrico Phosphates Business Unit.
Vietnam, Maroc In $600 Million Fertilizer Plant Deal.
Ten companies to introduce new fertilizer to Egypt.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters