Mosaic to invest $300m toward growing Brazil business: CEO

16 July 2013 22:28  [Source: ICIS news]

HOUSTON (ICIS)--Mosaic sees Brazil’s expanding agriculture sector as a prime place for the company to increase its share of the global fertilizer market and plans to invest $300m in growth opportunities there, the CEO of the North American fertilizer producer said on Tuesday.

Speaking during a fiscal Q4 earnings conference call, Mosaic CEO James Prokopanko said shipments outside of North American for the company remain strong, especially with record movement to Brazil.

“In Brazil, where the future of agriculture is bright, we’re making a significant new investment to expand our presence. Over the next five years we intend to spend approximately $300m on a number of projects to build, expand or acquire facilities,” Prokopanko said.

In addition, he said Canadian potash exporting firm Canpotex, of which Mosaic is an owner along with PotashCorp and Agrium, had its best March-May period due in part to the high volumes that went to Brazil.

Mosaic said it would provide further details about its Brazil strategy at the company’s Analyst Day in New York on 7 October.

By: Mark Milam
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index