Yara International
.svg) | |
| Company type | Allmennaksjeselskap |
|---|---|
| OSE: YAR | |
| Industry | Chemicals |
| Founded | 1905 |
| Headquarters | Oslo, Norway |
Key people | Jørgen Ole Haslestad (President and CEO), Øivind Lund (Chairman) |
| Products | Nitrogen fertilizers, nitrates |
| Revenue | NOK 65.37 billion (2010)[1] |
| NOK 12.80 billion (2010)[1] | |
| NOK 8.729 billion (2010)[1] | |
| Total assets | NOK 65.46 billion (end 2010)[1] |
| Total equity | NOK 35.33 billion (end 2010)[1] |
Number of employees | 7,348 (end 2010)[1] |
| Website | www.yara.com |
Yara International ASA is a Norwegian-based multinational chemical company. Its largest business area is the production of nitrogen fertilizer,[2][3] however it also encompasses the production of dry ice, nitrates, ammonia, urea and other nitrogen-based chemicals.
The company was established as Norsk Hydro – the world’s first producer of mineral nitrogen fertilizers – in 1905 and demerged as Yara International ASA on March 25, 2004. Yara is listed on the Oslo Stock Exchange and has its headquarters in Oslo. The company has about 7,300 employees, with operations in more than 50 countries and sales to over 120.[4]
History
Yara’s history began over a hundred years ago, when Norsk Hydro was founded by industrialists Sam Eyde, Kristian Birkeland and Marcus Wallenberg. Norsk Hydro used Norway’s large hydroelectric-energy resources to produce its first product, mineral fertilizer. The company pioneered direct nitrogen fixation, called the Birkeland-Eyde Process.[citation needed] This contribution to the fertilizer market attracted global attention as the product enabled farmers to boost their yields.
Norsk Hydro was founded on advanced research. This work was driven by a need to diversify and develop new industries. Even though the production of mineral fertilizer was successful, the company expanded into other businesses, from fertilizers to oil and metals.
The company adopted an international perspective early, sending its first shipment to China in 1913. In 1969, Norsk Hydro entered its first joint venture, with authorities in Qatar. With access to a competitive source of gas and a strategic location in the Middle East, the joint venture opened up a global market for the company.
By the 1970s the company was established in Asia, the Middle East and North America. The late 1970s to the mid-1980s was a period of rapid growth, through the acquisition of major fertilizer companies in France, Germany, Holland and the UK. At the end of the 1990s the company was also established in Brazil and South Africa.
In 2004, Hydro Agri demerged from Norsk Hydro and became an independent company called Yara International ASA. The company was listed on the Oslo Stock Exchange on March 25, 2004.
Since then, Yara has continued to expand its global presence through investments in other countries, such as Canada, Libya, Australia and Switzerland. The company is currently the world's leading provider of mineral fertilizer, with operations in more than 50 countries spread over six continents.
Recent acquisitions and expansions
- In February 2005, Yara bought a 30 percent stake in the Russian fertilizer producer OAO Minudobreniya ("Rossosh"), integrating Rossosh into Yara's planning and marketing operations.[5]
- In April 2006 the joint venture ammonia plant at Burrup, Australia, opened. Yara presently holds a 35% stake.
- In July 2006 Yara bought a controlling interest in the Brazilian fertilizer distribution and marketing company Fertibras.[6]
- In September 2006 Yara bought 50 percent of the Geneva-based trading company Balderton Fertilisers SA.
- In May 2007 Yara bought 30.05 percent of Finnish fertilizer company Kemira GrowHow and successfully tendered an offer to buy the rest.[7]
- In July 2008 Yara entered into an agreement to acquire Canadian nitrogen producer SaskFerco, completing the deal in October 2008. After this, the fertilizer plant located in Belle Plaine commenced to operate as Yara Belle Plaine Inc.[8]
- In February 2009 Yara completed an agreement with National Oil Corporation of Libya (NOC) and Libyan Investment Authority (LIA), establishing the joint venture Lifeco, in which Yara holds a 50 percent stake.[9]
- In September 2009 Yara started the construction of new Urea7 plant at Sluiskil, Netherlands.
- In October 2009, Qafco, in which Yara has 25 percent equity interest, signed a letter of intent for construction of Qafco-6 expansion project. The project includes the construction of a urea plant with a total daily production capacity of 3,850 tons.[10]
- In January 2010, Yara acquired the remaining 50 percent of Balderton Fertilisers.[11]
Former employees
- Roar Flåthen (former leader of the trade union at KOG)[12]
References
- ^ a b c d e f "Annual Report 2010" (PDF). Yara International. Retrieved 16 April 2011.
- ^ "Mergers in the fertiliser industry". The Economist. 18 February 2010. Retrieved 21 February 2010.
- ^ Stigset, Marianne (15 July 2008). "Yara Quarterly Profit Gains Threefold; Buys Plant". Bloomberg. Retrieved 2009-03-25.
- ^ "Yara´s website".
- ^ "Yara acquires the minority stake in Russian fertiliser plant". Gasworld.com. February 10, 2005.
- ^ "Timeline: Fertilizer maker Yara's ambitious expansion". Reuters. February 16, 2010.
- ^ "2007:Yara announces Kemira GrowHow takeover". Yara's website. 2007.
- ^ "Sale of Saskferco is finalized (press release)". Government of Saskatchewan. October 1, 2008.
- ^ "Yara completes $225 mln Libya fertiliser deal". Reuters. February 9, 2009.
- ^ "Yara JV Qafco signs letter of intent for expansion". Yara.com.
- ^ "Yara acquires remaining 50% of Balderton Fertiliser (press release)". Cisionwire. January 28, 2010.
- ^ http://laagendalsposten.no/nyheter/comeback-for-roar-flathen-i-kog-1.7221350
External links
Media related to Yara at Wikimedia Commons
