Koch Ag Completes Acquisition, Forms Joint Venture With Moroccan Phosphate Subsidiary
“The closing of this acquisition marks Koch’s first substantial investment on the African continent,” said Brad Razook, Executive VP of Koch Industries and CEO, Resources. “We are excited to add another nutrient to the KAES portfolio in collaboration with a world-class partner.”
The fertilizer industry news was first announced in March when Koch Ag & Energy Solutions (KAES) made known its planned acquisition of a 50% interest in Jorf Fertilizers Company III (JFC III) from OCP. JFC III owns and operates a phosphate-focused facility producing up to 1.1 million metric tons of fertilizers annually.
The acquisition was closed June 30, 2022 and forms a new 50/50 joint venture with a focus to provide phosphate-based fertilizers worldwide as JFC III’s production will be marketed by OCP and Koch Fertilizer, LLC.
“Our long-term partnership with Koch is reaching a new stage through the establishment of our Moroccan-based Joint-Venture, which confirms our common goal to provide farmers with high quality and reliable Moroccan phosphate fertilizers,” said Mostafa Terrab, Chairman and CEO of OCP Group.
Moroccan-based OCP is the world’s largest phosphate mining entity.