OCP Group of Morocco and Fertinagro Biotech, S.L. (Fertinagro), a Spanish company which manufactures and supplies a wide range of plant nutrition solutions, announced, Thursday, the signing of definitive agreements under which OCP would acquire 20% of Fertinagro by way of a capital increase. The transaction is subject to customary closing conditions, including regulatory approvals, said a statement by OCP Group. It added that this transaction is in line with OCP' strategy of focusing on innovation and product customization by leveraging Fertinagro's technical know-how and capabilities in specialty products and ability to respond to the farmer's specific needs. OCP is the largest phosphate producer in the world and a leading global fertilizer player, backed by almost a century of production history. It has exclusive access to the world's largest phosphate rock reserve base. It is one of the lowest cost producers of phosphate rock in the industry and has become a leading player in production and trade volumes across the phosphate value chain. Fertinagro is a major Spanish fertilizer company dedicated to the production and commercialization of plant nutrition solutions (NPK, enriched-NPK, biostimulants etc.) and is a leading player in terms of product development capabilities, biotech application and number of patents registered. It has a production capacity of 2 million tons throughout its 22 owned manufacturing plants and logistics centers located in Spain and France. Fertinagro has also an international footprint through its subsidiaries and sales in over 60 countries worldwide.
