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TERRA TO ACQUIRE ICI AMMONIA PLANT AND FARM SERVICE CENTERS

 SIOUX CITY, Iowa, Jan. 19 /PRNewswire/ -- Terra Industries Inc. (NYSE: TRA) and ICI Canada Inc. (ICI) today announced the agreement in principle for Tera?'s purchase of ICI's anhydrous ammonia manufacturing plant and related upgrading facilities, located near Sarnia, Ontario. The acquisition will also include ICI's interest in 32 Canadian Agromarts (TM) farm service centers. Combined, 1991 sales from the ICI operations totalled approximately (U.S.) $200 million. The purchase is expected to be completed in the first quarter of 1993, subject to a due diligence investigation and regulatory approval. Terms were not disclosed.
 Terra Industries Inc. is a leading marketer and producer of fertilizer, crop protection products, seed and services for agriculture.
 -0- 01/19/93
 /CONTACT: Paula C. Norton of Terra Industries, 712-277-5438/
 (TRA)


CO: Terra Industries Inc.; ICI Canada Inc. ST: Iowa, Ontario IN: SU: TNM

AH -- NY005 -- 6195 01/19/93 10:00 EST
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Publication:PR Newswire
Date:Jan 19, 1993
Words:148
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