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Business

Fertilizer Maker Will Offer Stock

by Alexander H. Tullo
June 24, 2013 | A version of this story appeared in Volume 91, Issue 25

OCI Partners, a U.S. affiliate of Egyptian conglomerate Orascom Construction Industries, has filed for a $480 million initial public offering on the New York Stock Exchange. OCI purchased idle methanol and ammonia plants in Beaumont, Texas, from Eastman Chemical in 2011 and later restarted them. The company is now expanding the plants. OCI will use the proceeds to pay off debt and pay for the expansion. Another Orascom affiliate, Iowa Fertilizer, plans to build a $1.8 billion fertilizer plant in Wever, Iowa.

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