OTCPK:PTAUF - Post by User
Post by
jkstockhouseon Apr 15, 2008 1:35pm
337 Views
Post# 14972818
Agrium $9 billion Revenue in 2008?
Agrium $9 billion Revenue in 2008? Long in POT and AGU and Potash Believer + found the following news this morning..JK Agrium Eyeing Chinese Fertilizer Market |
|
|
BEIJING, Apr 15, 2008 (SinoCast via COMTEX) -- Agrium Inc. (TSX and NYSE: AGU), Canadian second largest fertilizer producer, announced on April 11, 2008, that a representative office was set up in Beijing. |
|
The office, headed by Mark Wong, president of Agrium (China) Inc., would be responsible for Agrium's raw material purchase, fertilizer production, and sales in the country. |
|
Agrium President and CEO Mike Wilson revealed that the company would expand through acquisitions and industrial consolidation in the Chinese market, instead of setting up plants. In the fields of nitrogenous and kalium fertilizers, Chinese producers will be favored. |
|
Since 1994, Agrium has launched seven acquisitions, including taking a 19.6% stake in Hanfeng Evergreen Inc. in 2007. The latter signed an agreement licensing Agrium to use its sulfur coated urea technology, and distributes all the Agrium fertilizer in China, the sales of which has reached CAD 120 million. |
|
In 2007, Agrium's net income amounted to USD 441 million. Its sales are predicted to swell by about 200% to USD 9 billion in 2008. In the future, the company plans to sell kalium fertilizers to China and import urea from the country. |
|
From homeway.com, Page 1, Monday, April 14, 2008 info@SinoCast.Com |
|
Copyright (C) 2008 SinoCast, All rights reserved |