“Market Cap $12.2 B As of May 2014
At a Glance
- Industry: Specialized Chemicals
- Founded: 2004
- Country: Norway
- CEO: Joergen Ole Haslestad
- Website: www.yara.com
- Employees: 9,759
- Sales: $14.4 B
- Headquarters: Oslo
#668 Global 2000
- #667 in Sales
- #647 in Profit
- #1345 in Assets
- #910 in Market value
Yara International ASA is an investment holding company which is engaged in the production, distribution, and sale of nitrogen chemicals. It operates through the following segments: Downstream, Industrial, and Upstream. The Downstream segment consists of marketing organization and global distribution network for fertilizer products and agronomic solutions. The Industrial segment offers nitrogen chemicals,including ammonia-derived products, for use in the environmental and civil explosives applications. The Upstream segment comprises ammonia and urea production in different parts of the world, phosphate mining, the global trade and shipping ammonia, as well as nitrate and Nitrogen, Phosphorus, and Potassium fertilizer production. The Company was founded on November 10, 2003 and is headquartered in Oslo, Norway.“
“The History of Yara
The company’s development is rooted in that of Norwegian industrial firm Norsk Hydro, which dates back to 1905. That’s when industrialists Sam Eyde, Kristian Birkeland and Marcus Wallenberg tapped into Norway’s large hydro energy resources to produce the company’s first important product: Mineral fertilizer, which attracted attention from all over the world since it enabled farmers to boost their yields.
Decades later, after Norsk Hydro itself had expanded into a vast array of businesses from fertilizers to oil to metals, the division mostly devoted to agricultural products and co-products was spun off into its own stocklisted entity. Yara International ASA debuted on the Oslo Stock Exchange in 2004, but a lot happened in the intervening years and the company’s story continues…
Our History at a glance
On Friday the 13th of February in 1903, Sam Eyde was invited to dine with Norwegian cabinet minister Gunnar Knudsen. Kristian Birkeland was also present, setting the scene for their first meeting. In the course of the dinner Eyde said: “What I want is the most powerful electrical discharge on earth…” to which Birkeland replied: “That I can get for you!”
The world’s first production of Nitrogen fertilizer “Norgessalpeter” (calcium nitrate) at a test facility in Notodden, Norway. Production based on the Birkeland Eyde invention using hydroelectric power to extract nitrogen from air. Norsk Hydro founded on Dec. 2, 1905.
A new large scale production plant including power supply completed at Notodden and construction of the plant at Rjukan. King Chulalongkorn of Siam visited both sites.
Ammonia production began at Rjukan (1928). Plants established at Porsgrunn (1929). New industrial products like heavy water, CO2 developed. Yara Sluiskil (NSM) opened (1929).
Sales office opened in Stockholm. Sales began in the USA. The Glomfjord plant opened. It used hydroelectric power to upgrade ammonia to calcium nitrate and NPK (1949).
Ammonia production established at Porsgrunn, one plant based on partial oxidation of heavy fuel oil and one based on steam reforming of naphta. The Qafco joint venture with Qatar Industries was established in 1969.
Acquisition of NSM (Netherlands), Supra (Sweden), Fisons (UK), Ruhr Sticstoff (Germany), Windmill (Netherland), Cofaz (France). Terminal established in Chiwan, China in 1982. Office established in Harare, Zimbabwe 1983.
Agri acquired Adubos Trevo in Brazil and a controlling stake in Kynoch, South Africa. Turnaround and consolidation of the company. Hydro decided to list Agri on the Oslo Stock Exchange.
Listing on the Oslo Stock Exchange; March 25, 2004. Yara focuses on a future as the high-performance leader of the fertilizer industry.
Yara expanded in Brazil, bought half of Balderton, set up a joint venture with Praxair and took over Kemira GrowHow among other business moves. The company also made strides in the development of emission abatement products.
Yara expanded its joint venture in Qatar, reported record earnings and got a new CEO, Jørgen Ole Haslestad (photo). The company also signed the final agreement to create Lifeco and started the construction of new Urea7 plant in the Netherlands.
Yara sells Fosfertil in Brazil and enters emerging DEF market in the USA. African engagement expands, with two clearly defined corridors being developed. New Urea 7 plant opens in the Netherlands. Yara acquires Petro Miljö.
Yara co-sponsored the SFP pilot facility outside Doha and continued its strategic expansion worldwide, acquiring Bunge’s fertilizer business in Brazil and the German water sensor company ZIM Plant Technology GmbH, among other key acquisitions.”
*Information from Forbes.com and Yara.com
**Video published on YouTube by “YaraInternationalASA“