Nutrien

Last updated

Nutrien Ltd.
Company type Public company
TSX:  NTR
S&P/TSX 60 Component
Industry Agriculture
Predecessors PotashCorp, Agrium
Founded2018
Headquarters Saskatoon, Saskatchewan, Canada
Number of locations
1200 stores (2018)
Area served
Worldwide
Key people
 Ken Seitz (President & CEO), [1] and Russ Girling (Executive Chair)
RevenueIncrease2.svg $27.71 billion (2021) [2]
$902 million (2020) [3]
Increase2.svg $3.18 billion (2021)
Total assets Increase2.svg $49.95 billion (2021)
Total equity Increase2.svg $23.7 billion
Number of employees
23,500 (2021)
Subsidiaries Agrium, PotashCorp (PCS), Agrichem do Brasil S.A., Agrible, Inc., Actagro, Grupo TEC AGRO,
Website Official website

Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. It is the largest producer of potash, third largest producer of nitrogen fertilizer in the world and generally the 2nd largest in fertilizers worldwide. [4] [5] It has over 2,000 retail locations across North America, South America, and Australia with more than 23,500 employees. [6] 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. [6] It was formed through the merger of PotashCorp and Agrium, in a transaction that closed on January 1, 2018. [7]

Contents

History

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. [4] The new company also hopes to reduce costs through consolidation; it estimates that it will be able to decrease costs by $500 million USD. [8]

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 (FTC) 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%. [8] Agrium CEO Charles Magro became CEO of the new company, while PotashCorp CEO Jochen Tilk became Executive Chair. [6] Nutrien is based in Saskatoon, the former headquarters of PotashCorp, but it will maintain corporate offices in Calgary, the former headquarters of Agrium.

In May 2018, Nutrien announced it would sell to Tianqi Lithium a 24% stake in the Chilean mining company Sociedad Química y Minera (SQM) for approximately $4.1 billion. [9] [10] Tianqi was to purchase 62.5 million SQM A shares for $65 each. Nutrien needed to satisfy the Chinese and Indian regulators because of concerns it would corner the potash market. [10] [11] [12] The sale closed on 5 December 2018. [13]

In February 2019, Nutrien, through its Australian subsidiary Landmark Operations [14] announced the proposed acquisition of Australian rural retail organization RuralCo. [15] The acquisition was finalized on October 1, 2019, after which Ruralco was delisted from the ASX. [16] After this acquisition, Nutrien now supplies 650 rural merchandise stores in Australia, or approximately 45% of all rural merchandise stores in Australia. [17]

In July 2022, Nutrien announced that it would acquire Brazilian retail fertilizer company Casa do Adubo, increasing its expansion in Latin America. [18]

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.

Carbon footprint

Nutrien reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 13,160 Kt (-220 /-1.6% y-o-y). [19]

Nutrien's Total CO2e emissions (Direct + Indirect) (in kilotonnes)
Dec 2018Dec 2019Dec 2020
14,240 [20] 13,380 [21] 13,160 [19]

Related Research Articles

<span class="mw-page-title-main">BHP</span> Australian multinational mining and petroleum company

BHP, officially named BHP Group Limited and formerly known as BHP Billiton, is an Australian multinational mining and metals public company headquartered in Melbourne, Australia.

<span class="mw-page-title-main">BlueScope</span> Australian steel producer

BlueScope Steel Limited is an Australian flat product steel producer that was spun-off from BHP Billiton in 2002.

<span class="mw-page-title-main">Singapore Exchange</span> Investment holding company in Singapore

Singapore Exchange Limited is a Singapore-based exchange conglomerate, operating equity, fixed income, currency and commodity markets. It provides a range of listing, trading, clearing, settlement, depository and data services. SGX Group is also a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation. it is ASEAN's second largest market capitalization after Indonesia Stock Exchange at US$585.97 billion as of September 2023.

<span class="mw-page-title-main">Agrium</span>

Agrium Inc. was a major retail supplier of agricultural products and services in North America, South America and Australia and a wholesale producer and marketer of all three major agricultural nutrients and a supplier of specialty fertilizers in North America.

<span class="mw-page-title-main">Rio Tinto (corporation)</span> Anglo-Australian multinational mining company

Rio Tinto Group is a British-Australian multinational company that is the world's second largest metals and mining corporation. It was founded in 1873 when a group of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government. It has grown through a long series of mergers and acquisitions. Although primarily focused on extraction of minerals, it also has significant operations in refining, particularly the refining of bauxite and iron ore. It has joint head offices in London, England and Melbourne, Australia.

<span class="mw-page-title-main">Vale S.A.</span> Multinational diversified metals and mining corporation

Vale, formerly Companhia Vale do Rio Doce, is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. It also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt, currently operating nine hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.

AngloGold Ashanti Limited is an independent and global gold mining company with a diverse high-quality portfolio of cooperation, projects and exploration activities formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation. As of 2022, it was a global gold producer with 21 operations on four continents, listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses, but left the Johannesburg exchange in 2023. As of May 2023, it was the world’s fourth-largest gold miner with assets in Ghana, Australia, the US and Argentina.

<span class="mw-page-title-main">PotashCorp</span> Company

The Potash Corporation of Saskatchewan, also known as PotashCorp, was a company based in Saskatoon, Saskatchewan. The company merged with Calgary-based Agrium to form Nutrien, in a transaction that closed on January 1, 2018.

<span class="mw-page-title-main">The Mosaic Company</span> American chemical company

The Mosaic Company is an American chemical company based in Tampa, Florida, which mines phosphate, potash, and collects urea for fertilizer, through various international distribution networks, and Mosaic Fertilizantes. It is the largest U.S. producer of potash and phosphate fertilizer.

<span class="mw-page-title-main">Sociedad Química y Minera</span> Chilean chemical company and lithium producer

Sociedad Química y Minera de Chile (SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals. It is the world's biggest lithium producer.

Zijin Mining Group Co., Limited is a multi-national mining company headquartered in mainland China.

<span class="mw-page-title-main">Uralkali</span> Russian fertilizer producer

Uralkali is a Russian potash fertilizer producer and exporter. It is traded on the Moscow Exchange using the symbol, URKA. The company's assets consist of five mines and seven ore-treatment mills situated in the towns of Berezniki and Solikamsk. Uralkali employs about 12,000 people.

William "Bill" Doyle was the CEO of the Potash Corporation of Saskatchewan (PotashCorp), the world's largest fertilizer company by capacity. Doyle was CEO of PotashCorp since 1999. On April 6, 2014, Doyle announced his intention to retire on July 1, 2015, and to transition from president and CEO to senior advisor on July 1, 2014, when he was succeeded by Jochen Tilk.

The Aurora mine is the largest integrated phosphate mining and chemical plant in the world. The mine is located in Richland Township, in Aurora in Beaufort County, North Carolina. The mine, has been owned by PotashCorp since 1995, has an annual production capacity of over six million tonnes of phosphate ore. In 2008 the mine produced 6.6 million tonnes of phosphate ore from which 1.3 million tonnes of phosphoric acid was produced.

Jochen Tilk was the Executive Chairman of Nutrien from 2014 to 2018. He was President and CEO of PotashCorp from July 1, 2014 until its merger with Agrium to form Nutrien. Previously he was CEO of Inmet Mining Corporation, a Canadian metals company with operations in Turkey, Finland, Spain, and development in Panama, between 2009 and 2013. He is also the former Chair of Petaquilla Copper Limited. He is on the Boards of Durectors of Emera, AngloGold Ashanti Limited and the Princess Margaret Cancer Foundation

Ruralco is a diversified agricultural company that provides real estate, insurance, auctioneer services, agricultural equipment and other services to the Australian rural community. Ruralco became a wholly owned subsidiary of Canadian company Nutrien in 2019.

Martin Rogers is an Australian bioentrepreneur who has been associated since 2007 with a number of ASX-listed biotechnology companies, including Prima BioMed, which he led from 2007 to 2012.

Charles Victor "Chuck" Magro is a Canadian business executive who is the current CEO of Corteva Agriscience. Magro is the former CEO and President of Nutrien. He was the president of Agrium from January 2014 until it completed its merger with PotashCorp to form Nutrien. Prior to his appointment he served as COO from 2012 to 2013, Chief Risk Officer from February 2012 to October 2012, and as Vice President of Manufacturing 2009–2012. Prior to his time at Agrium he was an executive at Nova Chemicals. He holds a degree from University of Waterloo, and holds an MBA from University of Windsor.

<span class="mw-page-title-main">Tianqi Lithium</span> Chinese mining and manufacturing company

Tianqi Lithium Corp is a Chinese mining and manufacturing company based in Sichuan.

HomeCo Daily Needs REIT, also known as HomeCo, is an Australian real estate investment trust (REIT) specialising in ownership and management of Australian shopping centres. The publicly traded company owns 52 shopping centres in 5 Australian states. As of 2022, their centres are valued at $4.6 billion.

References

  1. ↑ "Nutrien Announces Appointment of Mayo Schmidt as President and CEO".
  2. ↑ "Nutrien Annual Report 2021".
  3. ↑ "Nutrien Operating Income 2006-2021 | NTR".
  4. 1 2 "Potash and Agrium plan to merge and create $36B US agricultural colossus". CBC News. Retrieved January 3, 2018.
  5. ↑ "Largest fertilizer companies worldwide 2024". Statista. Retrieved August 19, 2024.
  6. 1 2 3 "Nutrien Annual Report 2021".
  7. ↑ "Merger of PotashCorp and Agrium finalized as shares in Nutrien start trading". CBC News. Retrieved January 3, 2018.
  8. 1 2 "Agrium, PotashCorp merger will 'impact the entire industry,' including thousands of farmers: prof". CBC News. Retrieved January 3, 2018.
  9. ↑ Rashi, Akshat (May 30, 2018). "One Chinese company now controls most of the metal needed to make the world's advanced batteries". Quarts.
  10. 1 2 Swamynathan, Yashaswini; Nicholson, Marcy (May 17, 2018). "China's Tianqi Lithium to buy a quarter of Chile's SQM for $4.1 billion". Reuters. China's Tianqi Lithium Corp (002466.SZ) said on Thursday it will buy nearly a quarter of Chilean lithium producer SQM SQMa.SN for $4.1 billion, gaining it coveted access to a key ingredient in rechargeable batteries that power mobile phones and electric cars.
  11. ↑ Epstein, Evan (October 10, 2018). "Proposed Settlement Does Not Solve U.S. Antitrust & Governance Concerns in $4.1B Lithium Saga". Medium.
  12. ↑ Kreisle, Nicholas (July 2020). "Price Effects from the Merger of Agricultural Fertilizer Manufacturers Agrium and PotashCorp" (PDF). No. 345. US Federal trade Commission.
  13. ↑ "Nutrien Closes the Sale of SQM A Shares to Tianqi Lithium". Berkshire Hathaway. Business Wire, Inc. December 5, 2018.
  14. ↑ https://www.landmark.com.au/ Landmark Operations
  15. ↑ https://www.asx.com.au/asxpdf/20190227/pdf/4430v0cv3wwr8q.pdf (ASX announcement)
  16. ↑ https://www.asx.com.au/asxpdf/20191001/pdf/4492ps2s1b8sfg.pdf (ASX announcement)
  17. ↑ "Concerns about Landmark's proposed acquisition of Ruralco". www.accc.gov.au. June 13, 2019. Retrieved December 20, 2023.
  18. ↑ McGee, Niall (July 20, 2022). "Nutrien to acquire Brazilian fertilizer company Casa do Adubo in continued push into Latin America". The Globe and Mail. Retrieved July 20, 2022.
  19. 1 2 "Nutrien's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on August 19, 2021. Alt URL
  20. ↑ "Nutrien's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on August 19, 2021. Alt URL
  21. ↑ "Nutrien's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on August 19, 2021. Alt URL
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.