EuroChem acquires minor stake in Spain's Hispalense de Liquidos
Swiss nitrogen and phosphate fertiliser company EuroChem has acquired a minor stake in Hispalense de Liquidos, a Spanish producer of liquid NPK blends.
Financial terms of the deal have not been revealed by both companies.
The acquisition is expected to strengthen production capacity as well as enhance technical knowledge of EuroChem and enable the company to expand the scope of its product offering.
EuroChem CEO Dmitry Strezhnev said: "The acquisition of a stake in Hispalense, a well-established player in the Spanish fertiliser market, reflects our intention to expand our premium product portfolio.
“This is an interesting growth area for us and we see it has some exciting potential. The additional technical expertise will enable us to produce a new variety of such fertilisers and further support our customers with their efforts in sustainable farming.”
Hispalense manufactures a wide range of customised formulas of fertiliser and liquid blends based mainly on UAN, phosphoric acid, MAP, urea and potash at its facility located at Seville city in Spain.
The facility has a production capacity of up to 1,500t a day and current production levels are approximately 50,000t/year.
Currently, the Hispalense facility has the potential to produce 1,500t fertiliser and liquid blends on a day to day basis and approximately 50,000t annually.
Hispalense de Liquidos chairman Juan Romero said: "This is a win-win opportunity for us, giving us the ability to market some of EuroChem’s value-added fertilisers in Spain and to further promote our liquid fertiliser technology worldwide."