Agrium reports suspended operations at MOPCO nitrogen facility at Damietta, Egypt, due to local demonstrations; company has 26% stake in facility
November 14, 2011
– Agrium confirmed today that MOPCO management has suspended operations at the MOPCO nitrogen facility in Damietta, Egypt, due to local demonstrations. MOPCO is majority owned by the Egyptian government. Agrium has a small (26 percent) equity position in the facility which has been in operation since 2008. MOPCO has also temporarily suspended construction on the expansion project which is adjacent to the existing facility.
Agrium Inc. is a major Retail supplier of agricultural products and services in North America, South America and Australia and a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America through our Advanced Technologies business unit. Agrium’s strategy is to grow across the value chain through acquisition, incremental expansion of its existing operations and through the development, commercialization and marketing of new products and international opportunities. Our strategy places particular emphasis on growth opportunities that both increase and stabilize our earnings profile in the continuing transformation of Agrium.