Issue Date: June 30, 2008
Mosaic Will Sell Fertilizer Stake
Mosaic and Investment Saskatchewan, the investment arm of the Saskatchewan government, are putting their nitrogen fertilizer partnership, Saskferco Products, up for sale. Saskferco's plant in Belle Plaine, Saskatchewan???one of the largest of its kind in North America???makes anhydrous ammonia, granular urea, and urea ammonium nitrate fertilizers. In its past fiscal year, Mosaic netted earnings of $22.5 million from its 50% stake in Saskferco, but it wants to focus on potash and phosphate fertilizers. Mosaic is planning some 5.1 million metric tons of potash capacity expansions in Saskatchewan over the next 12 years.
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