Cinis Fertilizer seeking to establish itself in Asia
Sweden’s Cinis Fertilizer announced in a press release on Monday that it has signed a letter of intent with Japan’s ITOCHU Corporation as it seeks to establish operations in Asia. Cinis Fertilizer said the companies hope to enter into binding sales and delivery agreements and to explore the possibility of producing environmentally friendly mineral fertilizers in Asia.
The press release stated that the firms will cooperate on the sale of Cinis Fertilizer’s potassium sulphate and sodium chloride, as well as on the purchase of potassium chloride and sodium sulphate, inputs used in Cinis Fertilizer’s production. They will also look for a location for a production facility in Asia.
Cinis Fertilizer’s CEO, Jakob Liedberg, commented: ‘We have quickly found that ITOCHU is a committed and reliable partner. I see great opportunities to jointly achieve good results . . . There is a great potential for our environmentally friendly potassium sulphate, and with a partner like ITOCHU we should be able to quickly establish our circular business model also in Asia.’