Fertilizer tradition foundation for The Mosaic Company
Dec 10, 2004 12:00 PM
A NEW ERA in the fertilizer industry has begun with The Mosaic Company. The new company combines the assets of the Cargill Crop Nutrition division of privately held Cargill, Inc., and IMC Global of Lake Forest, Ill.
Mosaic will have annual revenues exceeding $4.5 billion, with more than 8,000 employees in 15 countries serving customers in 50 countries. The company has major production facilities in four U.S. states (Florida, Michigan, Louisiana and New Mexico) and in the province of Saskatchewan, Canada.
In addition, Mosaic has significant equity interests in leading phosphate producers in the rapidly growing markets of China and Brazil.
“By joining IMC's phosphate, feed phosphates and potash businesses with Cargill's phosphate, feed phosphates and nitrogen production and global distribution operations, we create a leading, publicly traded company better positioned to deliver customer and shareholder value,” said Frederic W. “Fritz” Corrigan, Mosaic chief executive officer and president.
“The combination of these two industry leaders will increase the scope of our product offering and improve our ability to consistently deliver quality products.”
He noted that the company will implement best practices from both predecessors in areas such as mining and reclamation, crop nutrient production and distribution, customer service, crop production advisory services, environmental stewardship, employee safety and community involvement.
“Our vision is to become the world leader in nourishing crops by delivering distinctive value to world agriculture,” Corrigan added. “We are bringing together the best talent and experience from two industry leaders to create a single, global source for the world's primary crop and animal feed nutrients.”
Mosaic will be a full-service global fertilizer company and will continue to provide the products and services that customers of both Cargill and IMC have counted on for years.
“By drawing on the skills and experience of both workforces, we'll be able to give retailers and growers exceptional products along with the industry's best agronomic information and excellent service,” Corrigan concluded.
