CF Industries Holdings, Inc. is now ready to move forward with the closing of its acquisition of Incitec Pivot Limited’s (IPL) ammonia production complex located in Waggaman, reports AgWeb.
The completed transaction date is set for Dec. 1, when the company will purchase the ammonia plant and related assets for $1.675 billion. The site was first commissioned in October 2016 and has a capacity of 880,000 tons of ammonia per year.
Per the deal, the companies will allocate approximately $425 million of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200,000 tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics.
The facility has 90 employees is located about 60 miles southeast of CF Industries’ Donaldsonville Complex. Read more.