Cargill Helps Create Fertilizer Giant

MINNEAPOLIS - Jan 27/04 - SNS -- For the first time in its 139-year history, Cargill will spin off part of its operation to create a news, publicly traded company.

Under the arrangement, Cargill Crop Nutrition will be combined into IMC Global Inc. The resulting company is expected to have an initial annual sales volume of U.S. $4.1 billion, assets of $5.4 billion and debts of $2.2 billion.

The new company will operate phosphate production facilities in Florida and Louisiana in the United States and potash production facilities in Saskatchewan, Canada, as well as in New Mexico and Michigan in the United States.

It also will be a 50% owner in Saskatchewan-based Saskferco Products, Inc., one of the world's most efficient nitrogen production facilities; have equity interests in phosphate production facilities in the key growth markets of Brazil and China; and operate key distribution facilities in 11 countries serving customers in 33 countries. Cargill's retail fertilizer operations are not included in the transaction.

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