PLYMOUTH, Minn.--(BUSINESS WIRE)--
The Mosaic Company (NYSE: MOS) today announced that it has entered into
a memorandum of understanding (MOU) with Sinochem, China’s largest
agricultural inputs company. As part of the MOU, Sinochem intends to
purchase phosphate rock and phosphate fertilizers, including premium
products, from Mosaic.
“We are pleased to build on our promising relationship with Sinochem,”
said Mosaic President and CEO Joc O’Rourke. “Sinochem is developing a
Modern Agriculture Platform for China, and we at Mosaic look forward to
partnering with Sinochem to contribute to this important progress for
Chinese farmers.”
The MOU establishes a mutually beneficial relationship through which
Mosaic could contribute to Sinochem’s success by providing both
expertise and products. Terms and conditions of the purchases are to be
outlined in a separate contract between the two parties.
“We believe this agreement can lead to meaningful value for Mosaic,
Sinochem and China’s farmers,” Mr. O’Rourke said.
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 phosphate and potash fertilizers and feed
ingredients for the global agriculture industry. More information on the
company is available at www.mosaicco.com.
This 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 the anticipated
benefits or strategic plans and other statements about anticipated
future financial, production and operating performance. 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: difficulties with realization of the benefits or strategic
plans; actual costs of various items differing from management’s current
estimates, price and demand volatility for our products, other changes
in market conditions, accidents and disruptions, including potential
mine fires, floods, explosions, seismic events, sinkholes or releases of
hazardous or volatile chemicals; changes in foreign currency and
exchange rates; international trade risks and other risks associated
with Mosaic's international operations, changes in government policy,
changes in environmental and other governmental regulation, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190108006056/en/
Media
Ben Pratt
The Mosaic Company
763-577-6102
benjamin.pratt@mosaicco.com
Investors
Laura Gagnon
The Mosaic Company
763-577-8213
investor@mosaicco.com
Source: The Mosaic Company