Yara Australia, who specialise in Crop nutrition has announced that it will sell its Yara Nipro liquid fertiliser business to Incitec Pivot Fertilisers.
Subject to ACCC approval, the transaction is expected to be complete later this year. It will include production plants at Moree and Griffith (both in NSW) and Boundary Bend (in Victoria) and distribution and administration operations. This addition will increase IPF’s liquid nitrogen capacity and footprint.
“IPF is making an investment of circa $20 million,” IPF’s CFO Chris Opperman said in a statement, adding that the acquisition occurs as parent company Incitect Pivot Limited plans to separate IPF into a standalone business.
“The addition of Yara Nipro to IPF is entirely in line with plans to expand the business and seize opportunities that will see it thrive following the proposed separation,” added Jeanne Johns, CEO of ASX-listed Incitec Pivot Limited (IPL.)
