Partners Selling Saskferco

Nitrogen fertilizer company Saskferco Products Inc. is up for sale.

The Mosaic Co. and Investment Saskatchewan have announced that they are seeking a buyer for Saskferco Products, according to PR Newswire.

"Saskferco is an excellent company and will have an exciting future under new ownership," says Jim Prokopanko, president and CEO of Mosaic. "The sale of Saskferco will allow us to focus on our core businesses of potash and phosphates and to fund the planned expansions of our Saskatchewan potash mines and other non-U.S. assets. We remain fully committed to Saskatchewan and are aggressively pursuing our 5.1 million tonne potash capacity expansion initiative in the province over the next 12 years."

"Saskferco is a strong company that is well positioned for the future," says Minister Lyle Stewart, responsible for Investment Saskatchewan. "Provided that a fair value can be obtained, there is no longer any reason for the government to retain its minority ownership position. We expect Saskferco to continue as a vibrant and successful private company in our provincial economy."

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