EuroChem acquired majority stake in Fertilizantes Heringer
EuroChem has completed a deal to acquire a 51.48% stake in the Brazilian mineral fertilizer supplier Fertilizantes Heringer. Fertilizantes Heringer owns 14 distribution centers in various parts of Brazil and can sell at least 4 million tons of mineral fertilizers per year, ranking fourth in the country in terms of their sales.
On March 31, 2022, an extraordinary meeting of shareholders should appoint a new board of directors and management of Fertilizantes Heringer.
Lieven Cooreman, head of EuroChem’s commercial service in South America, believes that the acquisition of a majority stake in Fertilizantes Heringer will allow the Russian company to better serve customers in the Brazilian market.
“The expansion of EuroChem’s presence improves the efficiency of its logistics, reduces costs for customers and contributes to the company’s growth,” Lieven Cooreman added.
EuroChem announced its plans to acquire Fertilizantes Heringer last December. Brazilian agriculture is a strategic market for the company’s sales of mineral fertilizers.