 | Rotterdam, The Netherlands – December 4, 2007 – Univar N.V., a world leader in chemical distribution, today announced that it has entered into an agreement with Yara Nederland B.V., a wholly-owned subsidiary of Yara International ASA, based in Oslo, under which Yara will purchase nearly all of Univar Europe’s Dureal® assets. The transaction is subject to regulatory approvals.
Dureal is Univar’s brand for distributing AdBlue™, a urea solution, to the European trucking industry through home bases and filling stations. With this sale, Univar is electing to exit the AdBlue market in Europe.
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara International’s Air1 brand is the number one producer and supplier of AdBlue in Europe.
The decision to sell its Dureal business assets is part of a larger strategic decision by Univar to focus on its core industrial chemical distribution business. No customer disruption is anticipated during the transition.
The transaction is expected to close by the end of December, 2007. |