Profertil experiences short-term interruptions in gas supply
CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today that its 50 percent owned nitrogen facility in Bahia Blanca, Argentina, Profertil SA, is experiencing supply interruptions of natural gas.
To date, the supply interruptions have not had a material impact on Agriumís financial performance. The facility has been out of production at different times since April 2007 for a total of 24 days, most recently for the past five days, due to gas deliverability issues associated with increased energy demand in Argentina during the winter period. Profertil continues to meet with the Argentine regulatory authorities to stress the importance of restarting the facility as soon as possible to supply nitrogen to Argentine farmers for the upcoming corn planting season. Profertil SA is the largest supplier of nitrogen to the Argentine market. Agriumís 50 percent share of the Profertil facility has a capacity of about 635,000 tonnes of primarily urea per year (1,800 tonnes of urea per day) and accounts for less than 10 percent of Agriumís Wholesale annual revenues.
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