Yara acquires remaining shares in Yara Nipro
Yara International ASA exercised a call option and purchased the remaining 60% of shares in Yara Nipro Pty Ltd from the founders.
According to Yara, Yara Nipro is the market leader in bulk liquid fertilizers to many crops in Eastern Australia, and sales volumes have increased by 125% since Yara purchased a 40% ownership in January 2008. Yara Nipro represents a business which is complementary to the already strong position held by Yara within the horticultural segment in Australia, and Yara Nipro's operations will be integrated with those of Yara Australia.
Yara Nipro has concentrated on irrigated high productivity agriculture and high performance large scale farmers and in more recent years expanded operations into horticulture, wheat and sugar cane. With only about 3% of the fertilizer in Eastern Australia supplied by liquids, there is huge potential for further growth.
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