Koch Ag To Acquire Iowa Fertilizer Plant
In a $3.6 billion agreement, Koch Ag and Energy Solutions plans to acquire 100% of OCI Global’s fertilizer plant in Wever, Iowa.
OCI Global, the Dutch parent of Iowa Fertilizer Co., opened the plant in 2017 and built it to be a state-of-the-art facility with the annual capacity to produce 3.5 million metric tons of nitrogen fertilizers and diesel exhaust fluid. This site will be added to Koch’s existing network of production, marketing and distribution of nitrogen fertilizers, diesel exhaust fluid and phosphate fertilizer products.
"Today's announcement is an important step forward for KAES as we continue to invest in our fertilizer business," said Mark Luetters, president of Koch Ag & Energy Solutions. "This investment complements our existing business and we look forward to advancing this transaction with OCI to completion."
Scott McGinn, executive vice president of Koch Fertilizer added, "We're excited about the opportunity the Wever plant will provide us to better serve existing and new customers with expanded products and services. We look forward to welcoming the Wever team to the Koch Fertilizer family when they join the nearly 500 Iowans employed by Koch companies across the state."
