Yara to Acquire Sacramento Terminal for $27M

Yara

has signed an agreement to acquire the assets of West Sacramento Nitrogen Operations from Agrium for a purchase price of USD 27 million. Yara will utilize the location as an import terminal for finished products, optimizing the site within the total footprint of Yara's West Coast operations. The transaction is expected to close by the end of 2015, pending satisfaction of customary legal conditions.This acquisition underlines Yara's commitment to better serve the needs of agricultural communities on the West Coast placing the company in a better position to supply a growing customer base in the region. "Yara has a proud, 65-year long history of doing business in California. As the world's largest producer of mineral fertilizer, we believe strongly in the prospects of California's farmers and retailers. This planned acquisition emphasizes our commitment to the region's agricultural market," says Jørgen C. Arentz Rostrup, President of Yara North America.  The West Sacramento terminal will provide Yara with greater market access to Northern California and its intensive agricultural market. The newly-acquired site will be used as an import terminal for finished products and complements Yara's terminals in San Diego, Stockton and Port Hueneme. The