CF Industries Completes Sale of Phosphates to Mosaic
U.S. fertilizer maker CF Industries Holdings (CF) has completed the sale of its phosphate business to compatriot The Mosaic Company of Plymouth, Minnesota, for $1.4 billion.
The deal originally announced in October 2013 includes a phosphate mine and beneficiation plant, a phosphate manufacturing facility and an ammonia terminal and finished product warehouse facilities near Tampa, Florida.
Headquartered at Deerfield, Illinois, CF Industries claims global leadership in nitrogen fertilizer, and Mosaic bills itself as world's largest combined producer of potash and phosphates, Adding CF's 1.8 million t annual output of phosphate fertilizer to its own, Mosaic's phosphates capacity will rise to more than 11 million t.
As part of the takeover arrangement, CF Industries will supply Mosaic with its share of the ammonia produced by the company's 50% owned production facility in the Republic of Trinidad and Tobago. It also has a long-term supply agreement with Mosaic to supply between 600-800,000 tons of ammonia per year for up to 15 years from its Donaldsonville, Louisiana, nitrogen complex.
