PLYMOUTH, Minn., Oct. 1 /PRNewswire-FirstCall/ -- The Mosaic Company
(NYSE: MOS) today announced the completion of the sale of Saskferco Products
ULC (Saskferco) to a subsidiary of Yara International ASA (Yara) for
approximately $1.6 billion of which Mosaic is entitled to one-half of the
proceeds.
"The completion of the sale of Saskferco is a key step in our strategic
plan and will allow us to focus on our core phosphate and potash businesses,"
said Jim Prokopanko, President and Chief Executive Officer of Mosaic.
"Working with the government of Saskatchewan and Saskferco has been an
excellent experience for Mosaic. We wish Yara much success as Saskferco's new
owner."
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers
of concentrated phosphate and potash crop nutrients. Mosaic is a single
source provider of phosphates and potash fertilizers and feed ingredients for
the global agriculture industry. More information on the company is available
at http://www.mosaicco.com.
About Saskferco Products ULC
Saskferco Products ULC is a Saskatchewan, Canada, based producer of
nitrogen fertilizer and feed ingredient products. The Mosaic Company and
Investment Saskatchewan held their interests in Saskferco Products ULC through
Saskferco Products Limited Partnership, a joint venture primarily owned by The
Mosaic Company and Investment Saskatchewan.
About Investment Saskatchewan
Investment Saskatchewan is a Saskatchewan Crown corporation that has a
mandate to enhance economic growth and diversification through the provision
of investment capital and financing and to ensure prudent management of
commercially viable investments.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about Mosaic's strategic
priorities and future plans. Such statements are based upon the current
beliefs and expectations of The Mosaic Company's management and are subject to
significant risks and uncertainties. These risks and uncertainties include
but are not limited to the predictability of fertilizer, raw material and
energy markets subject to competitive market pressures; changes in foreign
currency and exchange rates; international trade risks; changes in
governmental policy; changes in environmental and other governmental
regulation; adverse weather conditions affecting Mosaic's operations in
central Florida or the Gulf Coast of the United States, including potential
hurricanes or excess rainfall; actual costs of asset retirement, environmental
remediation and reclamation differing from management's current estimates;
accidents involving Mosaic's operations, including brine inflows at Mosaic's
Esterhazy, Saskatchewan potash mine and other potential mine fires, floods,
explosions or releases of hazardous or volatile chemicals; and changes in
financial markets, as well as other risks and uncertainties reported from time
to time in The Mosaic Company's reports filed with the Securities and Exchange
Commission. Actual results may differ from those set forth in the
forward-looking statements.
SOURCE The Mosaic Company
Contact: media, Linda Thrasher, +1-763-577-2864, or investors, Christine Battist, +1-763-577-2828, both of The Mosaic Company