Petrobras offers nitrogen fertilizer plant for sale
The UFN-III unit has a projected urea and ammonia production capacity of 3600 tpd and 2200 tpd.
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The UFN-III unit has a projected urea and ammonia production capacity of 3600 tpd and 2200 tpd.
Bjerne S. Clausen will continue as CEO until Roeland Baan takes up his new position on 1 June 2020.
Yara's 4Q19 net income after non-controlling interests was US$199 million, compared with US$157 million a year earlier.
The company recorded annual sales of US$6.2 billion for 2019, 11% higher than a year ago, as a result of a 7% increase in sales volumes and a more favourable price environment in the first six months.
The nitrogen fertilizer unit has been consistently losing Petrobras money since its acquisition in 2013.
The facility will have a production capacity of approximately 1.3 million tpy of ammonia and produce nitrogen-based fertilizers.
The report is still in a draft stage and the company plans to finalise the report before the end for 1Q20.
Samir Brikho has been appointed as Chairman of the Board of Directors.
Global ammonium chloride market is poised to reflect moderate growth under 5% for the fertilizer, pharmaceuticals, food, other metal industries and textiles sectors.
The plants are located in the Brazilian states of Bahia and Sergipe.
At 30 September 2019, the company had cash of CAN$8.2 million, a positive working capital of CAN$7.8 million and no debt.
The company said that its results had been affected by a short-term market slowdown, but that it maintained a positive outlook for 2020.