Canpotex Enters Into Long-Term Sales Agreement With Indonesia
SASKATOON, Sept. 30 /PRNewswire/ - Canpotex announces the signing of a five-year Memorandum of Understanding (MOU) with an Indonesian buying consortium for volumes totalling 3.75 million metric tons of potash.
On September 20, 2010, a 13-member Indonesian delegation led by Wilmar Trading Pte Ltd. and comprising representatives of PT. Petrokimia Gresik, PT. Pupuk Kaltim Kalimantan Timur and PT. Pupuk Sriwijaya, visited the Canpotex head office in Saskatoon to sign the five-year MOU in the presence of Mr. Steve Dechka, President & Chief Executive Officer of Canpotex Limited.
The MOU covers the period January 1, 2011 to December 31, 2015 and represents the largest MOU signed with Canpotex's Indonesian customers.
"This MOU confirms our long-term commitment to the fast growing Indonesian market; and reflects the trust and confidence our Indonesian partners have in the ability of Canpotex to meet their increasing potash requirements on a sustainable basis," Mr. Dechka noted.
Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX andNYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX andNYSE: POT).
Agrium supplies Canpotex with 9.28% of its potash product, Mosaic 37.11%, and PotashCorp 53.61%.
SOURCE Canpotex Limited
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