OCP, a leading global phosphate plant nutrition producer, has completed the acquisition of 20 per cent shares of Fertinagro Biotech, a company which manufactures and supplies wide range of plant nutrition solutions by way of a capital increase..
According to a joint statement by the two companies, a copy of which was made available to the Nigerian Tribune, All required regulatory approvals have been obtained and the capital increase has been approved by Fertinagro’s shareholders.
As part of the transaction, Fertinagro and OCP have signed an intellectual property and knowhow license agreement as well as a co-development agreement, in line with OCP’s strategic pillars to boost innovation and offer customised fertility solutions to meet farmers’ specific needs around the world.
The statement further held that through this partnership, OCP and Fertinagro intend to join forces in further developing innovative products and solutions for the agriculture and plant nutrition, as well as carry out further growth through joint industrial and commercial projects in the next few years.
“The strategic partnership we concluded with Fertinagro Biotech is a new step towards achieving our global growth strategy focusing on creating innovative, customized plant nutrition solutions adapted to crops and soils, to address the specific needs of farmers around the world.
Furthermore, this alliance is intended to deliver more opportunities ahead as we grow together leveraging on both companies’ complementary strength and capabilities.” said Mostafa Terrab, Chairman and Chief Executive Officer of OCP Group.
“OCP’s investment in Fertinagro will open many new opportunities to share knowledge and technologies with farmers, helping them achieve better competitiveness and sustainability in an evermore demanding agriculture. OCP is the best partner with whom we share the vision and passion that animates us every day to serve farmers and agriculture, a central pillar of our current efforts and future developments. We believe the alliance of efficiency, technology and scale brought by this unique partnership will undoubtedly benefit millions of growers around the world.” said
Mr. Generoso Martin, Founder, Fertinagro Biotech