Nutrien

Nutrien Inc.
Public company
Traded as

TSX: NTR
NYSE: NTR

S&P/TSX 60 Component
Industry Agriculture
Founded 2018
Headquarters Saskatoon, Saskatchewan, Canada
Number of locations
 1200 stores (2018)
Area served
 Worldwide
Key people
 Charles Magro (President and CEO)
Jochen Tilk (Executive Chair)
Number of employees
 20,000 (2018)
Website Official website

Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. It is the largest producer of potash, and the second largest producer of nitrogen fertilizer, in the world.[1] It has 1,500 retail stores and more than 20,000 employees.[2] It is listed on the Toronto Stock Exchange (symbol NTR) and New York Stock Exchange (symbol NTR), with a market capitalization of $34 billion as of January 2018.[2] It was formed through the merger of PotashCorp and Agrium, in a transaction that closed on January 1, 2018.[3]

Merger

PotashCorp and Agrium first proposed merging in September 2016. The merger was suggested in the context of low fertilizer prices, leading to the hope that a larger company will be better able to increase prices.[1] The new company also hopes to reduce costs through consolidation; it estimates that it will be able to decrease costs by $500 million USD.[4]

The transaction was originally expected to close in mid-2017, but was delayed to January 2018 because of regulatory hurdles; final regulatory approval from the United States Federal Trade Commission was only received in December 2017.

Based on the terms of the merger, former PotashCorp shareholders were given 52% of Nutrien, while Agrium shareholders were given 48%.[4] Agrium CEO Charles Magro became CEO of the new company, while PotashCorp CEO Jochen Tilk became Executive Chair.[2] Nutrien is based in Saskatoon, the former headquarters of PotashCorp, but it will maintain corporate offices in Calgary, the former headquarters of Agrium.

Competition

Nutrien's main competitors include other potash, phosphate and nitrogen producers, such as The Mosaic Company, Yara International ASA, CF Industries Holdings Inc and K+S AG.

References

  1. 1 2 "Potash and Agrium plan to merge and create $36B US agricultural colossus". CBC News. Retrieved 2018-01-03.
  2. 1 2 3 "Nutrien shares start trading on TSX and NYSE after Agrium, PotashCorp merger". Global News. Retrieved 2018-01-03.
  3. ↑ "Merger of PotashCorp and Agrium finalized as shares in Nutrien start trading". CBC News. Retrieved 2018-01-03.
  4. 1 2 "Agrium, PotashCorp merger will 'impact the entire industry,' including thousands of farmers: prof". CBC News. Retrieved 2018-01-03.
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