Following the acquisition of a plastics plant in France last December, the acquisition of a bulk agricultural supplies blending unit in the US, and authorisation to operate a new magnesia mine in Spain, we are pleased to announce a project for the acquisition of a feed phosphate plant in Serbia.
Our subsidiary Phosphea and the Elixir Group just reached a definitive agreement regarding:
- A production unit of a 100,000 tons capacity located in Prahovo, Serbia.
- The entire Feed Phosphates business, located essentially in Central and Eastern Europe.
Incorporated in 1990 by Stanko Popovic, Elixir is a Serbian industrial group specialized in plant, animal and human nutrition. The group primarily operates in Europe, has a workforce of nearly 1500 people and generated in 2015 a turnover of EUR 190 million.
Relying on a workforce of some 300 people and a production capacity of 670,000 tons spread over its five production sites (France, Tunisia and Spain), Phosphea sells its products in more than 100 countries. With this acquisition, our Feed Phosphates subsidiary, leader in Europe, continues its ambitious development strategy and integrates a platform ideally located in the dynamic Central and Eastern Europe markets.
This transaction, once again demonstrates the ambition and boldness of our activities and our teams. It remains subject to the antitrust approvals and customary conditions and is expected to be finalized by mid-2017.
These acquisitions confirm our development strategy throughout our business areas and will be followed by other acquisitions that are currently being considered.
