Hydro Agri now Yara Trinidad Ltd

Hydro Agri will take the name Yara upon demerger from the Norwegian industrial group Norsk Hydro ASA. Yara International ASA will be a separate company with its own listing on the Oslo Stock Exchange, planned for today. After nearly 100 years of manufacturing, distributing and selling mineral fertilisers worldwide, the Agriculture Division’s spin-off from Hyrdo is truly significant, the company said. “It allows Yara to chart an independent course and position itself for further value creation. Agri’s strong leadership position in the global fertiliser industry is a legacy that gives Yara a competitive edge, allowing the company to balance new growth with continued emphasis on safe and reliable production.”

Yara’s key strengths will be reflected in its new organisational structure which comprises three core segments — Upstream (amonia and fertiliser production), Downstream (market performnance of Nitrates, NPK and Speciality Fertilisers as well as its global sales and marketing network) and Industrial (industrial niche products). A very sizeable company with an estimated annual turnover of approximately USD 4.6 billion, and more than 7,000 employees in over 50 countries, Yara will preserve a proud heritage of being a Norwegian-based, internationally-managed global plant nutrition company, supporting food production through sustainable agriculture.

Reflecting the changes in our parent company, Hyrdo Agri Trinidad Ltd will change its name to Yara Trinidad Ltd. We will continue to be a significant contributor to the profitability of the Upstream Segment. The Trinidad site has its own strengths, built up from involvement in fertiliser and ammonia production over the last 40 years. Among these are experienced and highly skilled employees, as well as other strategic advantages that make us well-positioned for growth. Yara Trinidad Ltd will continue the strong partnership with the Trinidad Nitrogen Co Limited (Tringen), in managing and operating the 3-Plant ammonia complex in accordance with high international standards.

“In moving ahead with confidence, we will perpetuate what is best from our past, maintaining primary focus on productivity and cost and strengthening our organisation’s performance culture. We will continue our focus on safety and people development and improvement of our work processes. As Yara charts a steady course, “we will look for opportunities that will create synergy with our existing operations and structures and contribute to a stronger, more robust company. The future will undoubtedly be marked by continuity as well as change. There will be continuity of our operating philosophy, goals and our core values of accountability, trust and teamwork.