Yara will buy Brazilian fertilizer plant

Norwegian fertilizer maker Yara has agreed to purchase a Brazilian fertilizer plant, Vale Cubatão Fertilizantes, for $255 million from the mining firm Vale. The plant, in Cubatão, Brazil, makes nitrogen and phosphate fertilizers. It generated revenues of $413 million and earnings of $30 million in 2016. The plant was left out of the U.S. firm Mosaic’s $2.5 billion purchase of Vale Fertilizantes, which is still pending nearly a year after the companies inked the agreement.