HOUSTON (ICIS)--Canadian producer Pan American Fertilizer announced on Thursday it has acquired 100% of Exumer Corporation as part of its planned expansion of operations to Uruguay in order to increase the company’s fertilizer market share within South America.
While no financial details were released, the producer said its current CEO Randy Wright will also serve as Exumer's director and CEO.
Vancouver-based Pan American is focused on providing fertilizer to growing global markets specifically in South and Central America. The company is positioning itself to be the largest supplier of calcium sulphate in Latin America.
Calcium sulphate is a soft sulphate mineral that when dissolved in water becomes calcium and sulphur ions which provides essential nutrients for plants. The product plays a key function in crop growth by maintaining good chemical balance and helps with root development.
Pan American plans have previously said its primary focus is to significantly expand its current operational objectives and increase its asset base by acquiring additional calcium sulphate and other fertilizer related projects.
“We are pleased with the addition of Exumer to the Pan American brand,” said Wright. “We look forward to operating in a business friendly and agricultural focused country such as Uruguay, and we believe that this is a significant step forward in expanding our brand.”