Agrium Inc. in Calgary, Alberta, Canada, has reached a binding agreement to purchase International Mineral Technologies (“Tetra Micronutrients”). The transaction is expected to close by mid-July 2011.
Tetra Micronutrients is located in Fairbury, Neb., and specializes in the production, marketing and distribution of custom liquid plant nutrition and dry micro nutrient products, predominantly zinc sulphate. Total annual revenues are over $60 million, $24 million in liquid nutrient sales and about $40 million in dry products.
Agrium will integrate the company into its Agrium Advanced Technologies (AAT) and Loveland Products proprietary brand businesses. AAT will operate and market product from the dry granular production facility, as well as marketing liquid plant nutrition products to third party customers. Loveland Products will operate the liquid facility and market these liquid plant nutrition products to Agrium Retail customers.
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