Jul. 6, 2022
Koch Ag & Energy Solutions (KAES), a global provider of value-added solutions for the agriculture, energy and chemical markets, and OCP, the world’s largest phosphate mining and leading global fertilizer group, announced they have successfully completed the acquisition announced March 2, 2022. KAES, through an affiliate, acquired a 50% interest in Jorf Fertilizers Company III (JFC III) from OCP, establishing a 50/50 Joint-Venture between the two companies. The transaction closed on June 30, 2022.
JFC III owns and operates a cutting-edge industrial facility producing up to 1.1 million metric tons annually of phosphate-based fertilizers. Through its advantaged location within the Jorf Fertilizer Complex, the world’s largest phosphate fertilizer production platform, JFC III benefits from a unique relationship with OCP’s broader industrial operations at the Complex.
″Our long-term partnership with Koch is reaching a new stage through the establishment of our Moroccan-based Joint-Venture, which confirms our common goal to provide farmers with high quality and reliable Moroccan phosphate fertilizers″, said Mostafa Terrab, Chairman and CEO of OCP Group.
″The closing of this acquisition marks Koch’s first substantial investment on the African continent,″ said Brad Razook, Executive VP of Koch Industries and CEO, Resources. ″We are excited to add another nutrient to the KAES portfolio in collaboration with a world-class partner.″
″KAES and OCP have a long-standing relationship, and we are excited to continue growing our relationship as we work together to secure JFC III’s long-term success,″ said Mark Luetters, President of Koch Ag & Energy Solutions.
KAES’ acquisition of a 50% ownership stake in JFC III is a key milestone in the growth of JFC III. This Joint-Venture will leverage the customer base and logistical capabilities of both OCP and KAES to further expand the supply of phosphate-based fertilizers worldwide.