Koch Ag & Energy Solutions has just completed the closing to acquire 50% of the company “JFC III”, a subsidiary of the OCP Group. The new Joint Venture is owned equally by OCP and Koch.
Koch Ag & Energy Solutions (KAES), a global value-added solutions provider for the agriculture, energy and chemical markets, and the OCP Group, a global market leader in phosphates and fertilizers, announced the completion of the acquisition announced on March 2, 2022.
KAES, through a subsidiary, acquired a 50% stake in the capital of Jorf Fertilizers Company III (JFC III) from OCP, thus creating a Joint Venture equally owned by the two companies. The transaction was completed on June 30, 2022. JFC III owns and operates a premier integrated production unit with an annual production capacity of up to 1.1 million metric tons of phosphate fertilizer. Thanks to its privileged location within the industrial complex of Jorf Lasfar, the world’s largest platform for the production of phosphate fertilizers, JFC III benefits from a unique relationship with the rest of OCP’s industrial operations within the complex.
“Our long-standing partnership with Koch reaches a new milestone with the creation of our Joint-Venture in Morocco, which confirms our common goal of providing farmers with reliable and high-quality Moroccan phosphate fertilizers”said Mostafa Terrab, Chairman and CEO of the OCP Group. “The completion of this acquisition marks Koch’s first significant investment on the African continent”said Brad Razook, Executive Vice President of Koch Industries and Managing Director of Resources.
“We are delighted to add another nutrient to our KAES product portfolio, together with a world-class partner.” “KAES and OCP have a long-standing relationship. We are delighted to continue to develop our cooperation by working together to ensure the lasting success of JFC III,” said Mark Luetters, President of Koch Ag & Energy Solutions.
The acquisition by KAES of a 50% stake in JFC III is a key step in the growth of JFC III. This Joint Venture will leverage the customer network and logistics capabilities of OCP and KAES to further expand the phosphate fertilizer offering worldwide.