Yara International ASA has acquired the Mexican fertilizer company Olmeca from Sociedad Quimica y Minera de Chile S.A. (SQM). Olmeca had sales of 160,000 tonnes of fertilizers in 2005 and is considered an ideal vehicle to drive Yara’s market position in Mexico.
“Mexico is the fourth largest fertilizer market in the Americas after the USA, Brazil and Canada. The acquisition of Olmeca contributes to strengthening Yara’s position in the Mexican fertilizer market and creates a strong foundation for increased sales to the cash crop segment”, says President and CEO of Yara International, Thorleif Enger.
Olmeca has an established commercial organization with strong presence in the market through its network of rented warehouses and sales outlets. Olmeca has a 4 percent total domestic market share and a 9 percent market share in the central region of Mexico where it is most active. Olmeca has established a leading position in the specialty fertilizer segments for both fertigation and dry applied products. Total revenues exceeded USD 50 million in 2005.