Koch Ag & Energy Solutions to acquire 50% stake in JFC III from OCPDownload PDF - 198.66KB
Koch Ag & Energy Solutions (Koch) and OCP have signed an agreement under which a Koch affiliate will acquire a 50% interest in Jorf Fertilizers Company III (JFC III) from OCP, the world’s largest phosphate mining and leading global fertilizer group. When closed, the transaction will establish a 50/50 joint venture.
JFC III owns and operates an integrated phosphate fertilizer production facility in Jorf Lasfar, Morocco, with the capacity to produce up to 1.1 million metric tons annually of phosphate-based fertilizers. JFC III is one component of the Jorf Fertilizer Complex, the world largest Phosphate fertilizer production platform.
JFC III’s production will be marketed by OCP and Koch Fertilizer, LLC. Additionally, the companies will collaborate on the supply of ammonia and sulfur to OCP and leverage their logistical capabilities for the shipment of fertilizers from Morocco.
“The venture builds on Koch’s long-standing relationship with OCP and a shared vision to expand phosphate offerings globally,” said Scott McGinn, Koch Fertilizer executive vice president. “We are excited to grow Koch Fertilizer from a predominately nitrogen producer and distributor by offering a larger suite of phosphate products to our customers. We look forward to collaborating with OCP and leveraging the unique capabilities of both companies.” “Our collaboration with Koch is now entering a new phase after more than a decade of commercial relationship,” said Soufiyane El Kassi, Chief Growth Officer of OCP. “Koch is a key strategic partner with a shared vision on how to best serve farmers and agriculture. Through this transaction, we are happy to welcome another leading industrial player such as Koch to Morocco.”
The transaction is pending satisfaction of customary closing conditions.
About OCP Group:
OCP plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plant growth, with a century of experience and revenues reaching US$ 9.4 billion in 2021. OCP is a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers. OCP provides a wide range of customized fertilizer products to enhance soil, increase agricultural yields, and help feed the planet in a sustainable and affordable way. Headquartered in Morocco and present on five continents, OCP works in close partnership with more than 350 customers across the world. Closer to home, OCP is committed to help drive forward Africa’s environmental and social development and implement sustainable and prosperous agriculture through innovation. The Group is firmly convinced that leadership and profitability are necessarily synonymous with social responsibility and sustainable development. Its strategic vision is rooted in the meeting of these two dimensions.
Koch Ag & Energy Solutions, LLC and its subsidiaries - Koch Fertilizer, Koch Agronomic Services, Koch Energy Services and Koch Methanol - are global providers of value-added solutions for the agriculture, energy and chemical markets. Koch Ag & Energy Solutions, LLC is a subsidiary of Koch Industries, Inc. Based in Wichita, Kansas, Koch Industries, Inc. is one of the largest private companies in America, with estimated annual revenues as high as $110 billion, according to Forbes. It owns a diverse group of companies involved in refining, chemicals and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control systems; electronics, software and data analytics; minerals; glass; automotive components; commodity trading; and investments. Since 2003, Koch companies have invested nearly $120 billion in growth and improvements. With a presence in more than 70 countries, Koch companies employ 130,000 people worldwide, with about 65,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,300 awards for safety, environmental excellence, community stewardship, innovation and customer service.
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