Chemtrade invests in sulphur products company in Argentina
Chemtrade Logistics Income Fund announced that it is investing US $2.5 million in Buenos Aires based Meranol S.A.C.I., an Argentine producer of sulphuric acid and other sulphur products. Meranol, including its predecessor companies have been in the chemical business for approximately 120 years. Chemtrade's investment is in the form of convertible notes which are convertible into 10% of the equity of Meranol. Chemtrade also has options to increase its investment to up to 45% of Meranol's common stock at a pre-determined price.
Meranol is a producer of sulphuric acid and also produces aluminium sulphate, iron oxide pigments and linear alkyl benzene sulphonic acid at its integrated plant in Buenos Aires. Meranol is uniquely situated to capture the increasing Argentine demand for sulphuric acid driven by the significant growth of the fertilizer industry. This investment will allow Chemtrade and Meranol to solidify their existing relationship and enable Chemtrade to participate in a dynamic long-term market for sulphur and sulphuric acid.
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