Akzo Nobel's Chelates and Micronutrients business has signed a global marketing agreement with Norwegian fertilizer producer Yara International ASA.
Under the terms of the cooperation deal, Yara and SQM will—with the exception of Italy, Spain, Israel and the USA—become the exclusive distributor worldwide for Akzo Nobel within the agricultural application segment.
"The strength of this agreement is that it brings together independent partners with their specific expertise,” explained Geert Hofman, General Manager of Akzo Nobel’s Chelates and Micronutrients business.
“Yara and SQM's worldwide distribution and network of specialists will make it possible for us to serve growers with our quality micronutrients in an optimized way. This is an excellent stepping stone for future growth on a truly global basis for our Micronutrients business."
Added Terje Knutsen, Vice President Downstream Marketing and Specialities at Yara: "With this agreement we have a complete portfolio in place and we are well positioned to serve the fertigation segment and the foliar segment, as well as the segment for dry application. Together with our alliance partners, we can offer growers all around the world the plant nutrition solutions they require for the production of high quality crops."
Chelates are molecules that protect micronutrients from adverse soil conditions, making them more available for plants. The total market for chelated micronutrients for plant nutrition is worth approximately USD 180 million.
(Released: May 30, 2005)