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Ole Haslestad News

07 Oct 2014

Kvidal Named Yara Int'l Acting CEO

Torgeir Kvidal is appointed Acting CEO effective 7 October 2014, and Jørgen Ole Haslestad has resigned as Yara CEO. "Yara's Board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries. Haslestad would not have a role in a potential merged company," says Leif Teksum, Chairman of the Yara Board of Directors. "I would like to take this opportunity to thank Jørgen for his contribution to Yara, first as a Board member and since 2008 as CEO. Yara has made considerable progress under Haslestad's leadership," says Teksum. "The discussions with CF Industries will continue with Kvidal leading the Yara team, with support from the Board and in particular from me as Chairman," says Teksum.

02 Oct 2014

Yara Completes Acquisition of OFD Holding

Holding Inc. (OFD) allowing the integration process to start. The OFD operations comprise production facilities in Cartagena, Colombia and distribution companies across Latin America. Regulatory approvals have been obtained in almost all jurisdictions, including commitments which are not expected to materially impact the profitability of the acquisition. "We welcome the approvals from regulatory authorities which now allow us to close the acquisition and start the integration process. This is an important milestone which paves the way for Yara's further development in Latin America, creating value for Yara's shareholders and contributing to agricultural, industrial and mining sector growth in the region.

06 Aug 2014

Yara to Acquire Majority Position in Galvani

Yara International ASA has entered into an agreement to acquire a 60% stake in Galvani Indústria, Comércio e Serviços S/A ("Galvani"), for an enterprise value of USD 318 million. Galvani is an independent, privately held fertilizer company, controlled by Mr. Rodolfo Galvani Jr., a Brazilian entrepreneur. The company is engaged in phosphate mining, Single Super Phosphate (SSP) production and distribution of fertilizers in the center and northeast of Brazil. Galvani also owns licenses for two new greenfield phosphate mine projects in Brazil. The acquisition is in line with Yara's strategy for growth in Latin America, seeking to develop a production footprint in Brazil to complement its established position, following the recent acquisition of the Bunge fertilizer business in Brazil.

21 Jul 2014

Yara Names Brandtzæg New CEO

The board of directors of Yara International today announced the appointment of Svein Richard Brandtzæg as the company's new President and Chief Executive Officer. He will succeed Jørgen Ole Haslestad by February 2015. Brandtzæg currently serves as President and CEO of Norsk Hydro ASA, a position he has held since 2009. Prior to this, he has held a number of management positions in Norsk Hydro. Born in Norway in 1957, Brandtzæg graduated from the Norwegian University of Science and Technology (NTNU). He holds an economics degree from the Norwegian School of Management and a PhD from NTNU. "In preparation for the retirement of Jørgen Ole Haslestad at the age of 65, the Yara Board of Directors initiated a thorough process to identify his successor.

20 Jul 2014

Yara 2Q Results Report Improved Margins

Yara International ASA delivered strong second-quarter results, with improved European commodity margins due to lower gas price. The results were impacted by lower nitrate deliveries, but NPK deliveries and value-added premiums remained strong. "Yara reports a strong second-quarter result as margin improvements more than offset the volume impact of an earlier end to the season in Europe," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara. "Our NPK business continues to perform well, and I am pleased to announce a 250,000 ton expansion of NPK capacity in Uusikaupunki, Finland, for completion by end 2015," said Jørgen Ole Haslestad.

12 Feb 2014

Yara Reports Lower Q4 Results

Yara International ASA delivered lower fourth-quarter results, with weak commodity margins but robust value-added premiums and strong deliveries. Yara's board will propose to the Annual General Meeting a dividend payment of NOK 10 per share for 2013. "Yara's fourth-quarter results reflect weaker commodity fertilizer markets," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara. "On the positive side, we report strong production volumes and deliveries, and the Industrial segment delivers higher sales and margins. Value-added product premiums remained robust compared with the strong decline in global nitrogen, phosphate and potash prices," said Jørgen Ole Haslestad.