Fertilizantes Tocantins (FTO) signs a definitive business integration agreement with EuroChem Group AG (EuroChem), a world leader in fertilizers. Started in 2016, when EuroChem acquired the majority control of FTO, the partnership already anticipated complete consolidation, part of the natural evolution of the business. Today’s deal is subject to regulatory approval and is expected to close in the third quarter of this year. This integration reflects EuroChem’s strategy to become the world’s leading fertilizer producer. In addition to the FTO’s fertilizer mixing plants, its market presence and distribution channels provide EuroChem with an ideal platform to offer farmers the full range of products. Currently nitrogen (urea), phosphates (MAP) and potassium (MOP) are produced, up to a wide range of special fertilizers, including compound NPK (Nitrophoska®), NPS (Croplex®) and water-soluble products (Aqualis®). Since 2016, the combination of the resources of the two companies and the dedication of FTO employees, has made it possible to rapidly increase the supply of fertilizers, as well as the construction of new factories in Brazil. In addition to the existing units, three other new facilities in Araguari (MG), Catalão (GO) and Sinop (MT) were inaugurated. With a clear vision of becoming the safest, most profitable, fastest growing and most attractive fertilizer company in the world, EuroChem is committed to continuing to expand business in Brazil, expanding its production base and distribution reach. José Eduardo Motta, FTO CEO, commented: “FTO and EuroChem have evolved and grown, becoming one of the dynamism and success stories widely recognized in the fertilizer sector in Brazil and in the world, respectively. This transaction was planned several years ago and aims to ensure continuous expansion. I am convinced that we will continue to see the FTO platform grow and expand its offer to customers in Brazil ”. Founded in 2003, Fertilizantes Tocantins is strategically located in the fastest growing agricultural regions in the country, such as the North, Northeast, Midwest and Southeast. The company has shown double-digit sales growth for seven consecutive years, reaching 2.4 million tons of fertilizers sold in 2019.
Source: www.fertilizantestocantins.com.br