Acquisition to allow KAES to build on existing capabilities, better serve existing, new customers
WICHITA, Kan., Dec. 18, 2023 /PRNewswire/ -- Koch Ag & Energy Solutions (KAES), a global provider of solutions for the agriculture, energy and chemical markets, today announced an agreement to acquire OCI Global's fertilizer plant in Wever, Iowa, for $3.6 billion.
The transaction, once finalized, will give KAES 100% ownership of the state-of-the-art facility, which was opened in 2017 and has the capacity to produce 3.5 million metric tons of nitrogen fertilizers and diesel exhaust fluid annually.
"Today's announcement is an important step forward for KAES as we continue to invest in our fertilizer business," said Mark Luetters, president of Koch Ag & Energy Solutions. "This investment complements our existing business and we look forward to advancing this transaction with OCI to completion."
Once all closing and regulatory conditions of the acquisition agreement are met, the Wever facility will be added to the existing Koch Fertilizer portfolio, which produces, markets and distributes nitrogen fertilizers, diesel exhaust fluid and phosphate fertilizer products.
"We're excited about the opportunity the Wever plant will provide us to better serve existing and new customers with expanded products and services," said Scott McGinn, executive vice president of Koch Fertilizer. "We look forward to welcoming the Wever team to the Koch Fertilizer family when they join the nearly 500 Iowans employed by Koch companies across the state."
Barclays is serving as exclusive financial advisor to KAES on the transaction. Jones Day is acting as its legal advisor.
About Koch Ag & Energy Solutions (KAES)
Koch Ag & Energy Solutions, LLC and its subsidiaries, including Koch Fertilizer, Koch Agronomic Services, Koch Energy Services and Koch Methanol, are global providers of value-added solutions for the agriculture, energy and chemical markets.
Koch Fertilizer
Koch Fertilizer, LLC and its affiliates own or have interests in nitrogen fertilizer plants in the United States, Canada, and Trinidad and Tobago as well as a phosphate fertilizer plant in Morocco. The companies cover global demand through state-of-the-art terminals in the U.S., Canada, Mexico, Brazil and Australia. Koch Fertilizer, LLC and its affiliates have the capability to market and distribute approximately 12 million tons of fertilizer products annually. Koch Fertilizer, LLC is a subsidiary of Koch Ag & Energy Solutions, LLC.
View original content:https://www.prnewswire.co.uk/news-releases/koch-ag--energy-solutions-reaches-agreement-to-acquire-wever-fertilizer-plant-from-oci-global-302017614.html
