wtten-Amman 19/10/2017) Arab Potash Company (APC) Chairman of the Board Jamal Al Sarayrah stated today 19 October that PotashCorp,
the mother company of APC’s strategic partner PCS Jordan LLC, has announced its plan to merge with Agrium, another Canadian fertilizer company. As a result of the merger, PotashCorp and Agrium are required to obtain the necessary approvals from anti-trust regulators in several countries, including the United States, Canada, China and India and Brazil.
The Competition Commission of India (CCI) approved the merger, provided that PotashCorp divests its shares in its global investments, including the company’s shares in the Arab Potash Company, Israeli Chemicals Limited (ICL), and the Chilean potash producer SQM over the next 18 months.
Al Sarayrah pointed out that the Arab Potash Company has management programs and internal institutional systems that ensure the smooth continuity of the Company’s operations, and the Company has implemented over the past years administrative systems that match the best international practices.
It should be noted that the Board of Directors of the Arab Potash Company approved in its meeting on October 16, 2017 the project to expand potash production by 180,000 tons per year at an estimated cost of JD 130 million. This increase the production capacity of the company’s plants will be of great benefit to the Company’s shareholders and the Government of the Hashemite Kingdom of Jordan. This project is one of the steps towards expansion which the Board of Directors works to implement in order to promote the Jordanian potash industry.
