Swiss Ameropa set to control Romania's Azomures – source

24 November 2011 15:55  [Source: ICIS news]

LONDON (ICIS)--Swiss grain and fertilizer trader Ameropa Group has reached a deal that will give it control of Azomures, Romania's largest fertilizer producer, an Azomures source said on Thursday.

Ameropa had successfully concluded negotiations with a Turkish group of investors that control Azomures Holding and Eurofert, which together hold 75.9% of Azomures, he added.

The negotiations were announced at the end of October in a statement released to the Bucharest Stock Exchange by Azomures.

“The transaction should be officially announced very soon,” the source said.

“Ameropa is a major grain trader in Romania so it receives sound information on the country's agricultural production, which has hit record levels this year, pushing up fertilizer demand and prices and thus the share price and earnings of Azomures,” he added.

Privately owned Ameropa is present in Romania through its cereal storage company Comcereal Constanta.

Azomures has ammonium nitrate (AN) and calcium ammonium nitrate (CAN) units, both of which produce about 300,000 tonnes/year. It has plans to increase these capacities by more than 15% and to boost the capacity of its urea unit from 900 tonnes/day to 1,425 tonnes/day.

For more on AN, CAN and urea visit ICIS pricing fertilizers

By: Will Conroy
+44 20 8652 3214

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