Fertiglobe and ADNOC to acquire distribution assets of Wengfu Australia.

Fertiglobe, a nitrogen fertilizer and ammonia producer and distributor, and ADNOC, a state-owned oil company of the United Arab Emirates, agreed to acquire distribution assets of Wengfu Australia, a fertilizer distributor operating from five ports and eight warehouses across South-East Australia. Financial terms were not disclosed. “Acquiring Wengfu’s assets marks a strategic step in our value-driven growth strategy and accelerates our commercial footprint in Australia – one of the world’s fastest-growing agricultural regions. It also provides us with a strong distribution platform across the Asia-Pacific region, strengthens access to our customers, and enhances our ability to competitively source and deliver our products and services. Having known Wengfu’s team for several years, we have strong confidence in their ability to grow the business from here. The transaction is in line with our ambitions to expand our presence in key markets and reinforces our leadership position in the global nitrogen industry,” Ahmed El-Hoshy, Fertiglobe Chief Executive Officer.