Company:Nutrien
 | |
| Type | Public company |
|---|---|
| TSX: NTR NYSE: NTR S&P/TSX 60 Component | |
| Industry | Agriculture |
| Founded | 2018 |
| Headquarters | Saskatoon, Saskatchewan, Canada |
Number of locations | 1200 stores (2018) |
Area served | Worldwide |
Key people | Charles Magro (President, CEO, and Executive Chair) |
Number of employees | 20,000 (2018) |
| Subsidiaries | Agrium and Potash Corporation of Saskatchewan |
| Website | Official website |
Nutrien is a Canada fertilizer company based in Saskatoon, Saskatchewan. It is the largest producer of potash and the third largest producer of nitrogen fertilizer in the world.[1] It has 1,500 retail stores and more than 20,000 employees.[2] It is listed on the Toronto Stock Exchange (symbol Template:TSX link) and New York Stock Exchange (symbol NTR), with a market capitalization of $34 billion as of January 2018.[2] It was formed through the merger of PotashCorp and Agrium, in a transaction that closed on January 1, 2018.[3]
Merger
PotashCorp and Agrium first proposed merging in September 2016. The merger was suggested in the context of low fertilizer prices, leading to the hope that a larger company will be better able to increase prices.[1] The new company also hopes to reduce costs through consolidation; it estimates that it will be able to decrease costs by $500 million USD.[4]
The transaction was originally expected to close in mid-2017, but was delayed to January 2018 because of regulatory hurdles; final regulatory approval from the United States Federal Trade Commission was only received in December 2017.
Based on the terms of the merger, former PotashCorp shareholders were given 52% of Nutrien, while Agrium shareholders were given 48%.[4] Agrium CEO Charles Magro became CEO of the new company, while PotashCorp CEO Jochen Tilk became Executive Chair.[2] Nutrien is based in Saskatoon, the former headquarters of PotashCorp, but it will maintain corporate offices in Calgary, the former headquarters of Agrium.
Acquisitions
Nutrien, through its Australian subsidiary Landmark Operations [5] announced the proposed acquisition of Australian rural retail organization RuralCo [6] on February 27, 2019. The acquisition was finalized on October 1, 2019, after which Ruralco was delisted from the ASX. [7] After this acquisition, Nutrien now supplies 650 rural merchandize stores in Australia, or approximately 45% of all rural merchandize stores in Australia. [8]
Competition
Nutrien's main competitors include other potash, phosphate and nitrogen producers, such as The Mosaic Company, Yara International ASA, CF Industries Holdings Inc and K+S AG.
References
- ↑ 1.0 1.1 "Potash and Agrium plan to merge and create $36B US agricultural colossus" (in en). CBC News. http://www.cbc.ca/news/business/potash-agrium-merger-1.3757953.
- ↑ 2.0 2.1 2.2 "Nutrien shares start trading on TSX and NYSE after Agrium, PotashCorp merger" (in en). Global News. https://globalnews.ca/news/3941694/nutrien-shares-tsx-nyse-agrium-potashcorp-merger/.
- ↑ "Merger of PotashCorp and Agrium finalized as shares in Nutrien start trading" (in en). CBC News. http://www.cbc.ca/news/business/potash-agrium-nutrien-merger-1.4469690.
- ↑ 4.0 4.1 "Agrium, PotashCorp merger will 'impact the entire industry,' including thousands of farmers: prof." (in en). CBC News. http://www.cbc.ca/news/canada/saskatchewan/agrium-potashcorp-merger-nutrien-1.4465479.
- ↑ https://www.landmark.com.au/ Landmark Operations
- ↑ https://www.asx.com.au/asxpdf/20190227/pdf/4430v0cv3wwr8q.pdf (ASX announcement)
- ↑ https://www.asx.com.au/asxpdf/20191001/pdf/4492ps2s1b8sfg.pdf (ASX announcement)
- ↑ https://www.accc.gov.au/media-release/concerns-about-landmark%E2%80%99s-proposed-acquisition-of-ruralco ACCC announcement
External links
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