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IMC FERTILIZER, KOCH INDUSTRIES DISCUSSING SALE OF AMMONIA UNIT

    IMC FERTILIZER, KOCH INDUSTRIES DISCUSSING SALE OF AMMONIA UNIT
    NORTHBROOK, Ill., Nov. 18 /PRNewswire/ -- IMC Fertilizer Inc. and Koch Industries, Inc., Wichita, Kan., said today the two companies have signed a letter of intent on Koch's potential acquisition of IMCF's ammonia production facility at Sterlington, La.  The transaction is subject to both companies' agreeing to the terms of a definitive contract and approval by the boards of the two companies.
    The Sterlington ammonia facility includes two ammonia plants having a combined annual capacity of about one million tons.
    Financial details and tentative timetable of the proposed sale of substantially all of the assets and properties relating to the two ammonia plants at Sterlington were not disclosed.
    Koch Industries, a privately held firm headquartered in Wichita, is involved in virtually all phases of the oil industry, chemicals, chemical technology products, minerals and agriculture.
    IMC Fertilizer, Inc. is a wholly owned subsidiary of IMC Fertilizer Group, Inc. (NYSE: IFL).  In addition to producing ammonia, it is the world's leading producer of phosphate rock and potash, two basic fertilizer materials, and a manufacturer of concentrated phosphates and other crop nutrients.  The company also is involved in the production of sulfur, production of natural gas and oil, and recovery of uranium oxide for upgrading by electric utilities for use as fuel in nuclear power plants.
    -0-            11/18/91
    /CONTACT:  Tom Unzicker (media), 708-205-4839, or John E. Galvin (investors), 708-205-4814, both of IMC Fertilizer; or Rich Tuttle of Koch, 316-832-7462/
    (IFL) CO:  IMC Fertilizer, Inc.; Koch Industries, Inc. ST:  Illinois, Louisiana, Kansas IN:  CHM SU:  TNM FC-JT -- NY095 -- 4687 11/18/91 18:02 EST
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Publication:PR Newswire
Date:Nov 18, 1991
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