Canada's Agrium will not be split up – CEO

14 August 2012 13:45  [Source: ICIS news]

TORONTO (ICIS)--Agrium will not be split up but will rather continue to execute on its integrated business strategy, Mike Wilson, the CEO of the Canada-based fertilizer major, said on Tuesday.

Wilson was reacting to suggestions by a hedge fund that Agrium should be split up into separate retail and wholesale businesses.

“Spinning off retail would expose Agrium shareholders to substantial risk with no sustainable benefit, and we will not be pursuing it," Wilson said.

"We are confident that Agrium shareholders will receive far greater value with less risk under the company's current strategy," he added.

Calgary-based Agrium is a large producer of nitrogen-based fertilizers. It is also a big retailer of fertilizers, crop chemicals and other farm products.

By: Stefan Baumgarten
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