Yara has accepted an offer from Borealis to acquire Borealis' ownership in the Le Havre urea plant in France. Yara currently holds 47.85% ownership in the plant and the acquisition will simplify management and allow for greater flexibility and optimization. The acquisition will also give Yara access to an additional 160,000 metric tons of urea per year, allowing for expansion in sales to industrial customers. The agreement with Borealis also includes a urea supply agreement during a transition period.
Oslo - Following the Borealis acquisition of GPN SA including 52.15% ownership in the Le Havre urea plant, Yara has accepted an offer from Borealis to acquire Borealis' ownership in Le Havre, situated on the north-west coast of France.
Yara currently holds 47.85% in the 320,000 metric tons p.a. urea production facility, and 100% in 400,000 metric ton p.a. ammonia production facility.
The acquisition will simplify overall management of the facility to the benefit of Yara's activities in France and in Europe, and will allow greater flexibility and optimization of the site.
Access to an additional 160,000 metric tons urea p.a. will allow Yara to expand its sales to industrial customers in markets such as nitrogen oxide abatement (DeNOX), AdBlue and the animal feed sector.
The agreement with Borealis includes a urea supply agreement during a transition period.