Agrium Buys Stake In Hanfeng
2 April 2007 “I believe this is excellent strategic fit for Agrium, one that leverages off our expertise in the specialty fertilizer business and provides a platform for future growth in the important Chinese fertilizer and agriculture market,” said Mike Wilson, President and CEO of Agrium.
Hanfeng is a provider of value-added fertilizers in China, with significant granulated NPK production, blending capacity, and growing SCU capacity. Its SCU production technology was licensed from Nu-Gro Technologies, which is now part of Agrium’s Advanced Technologies business unit.
Hanfeng has grown significantly in the specialty fertilizer market in the past two years, and has plans to continue to expand production in China. The growth is expected to be largely in slow and controlled release fertilizers, which increase yields and represents a best nutrient management practice.
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