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CVR PARTNERS ACQUIRES RENTECH NITROGEN PARTNERS, L.P.
Apr. 4, 2016
Source: CVR Partners news release
CVR Partners, LP (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate (UAN) solution fertilizer products, today announced that it has completed its acquisition of Rentech Nitrogen Partners, L.P., which primarily includes the East Dubuque, Illinois, nitrogen fertilizer plant.
The combination of CVR Partners' Coffeyville, Kansas, fertilizer plant and the East Dubuque facility provides the partnership with an expanded geographical footprint, diversification of its raw material feedstocks, wider customer reach and greater potential for cash-flow generation.
"The addition of East Dubuque to CVR Partners positions us as an emerging leader in the North American nitrogen fertilizer industry and makes us more competitive in a changing market environment," said Mark Pytosh, chief executive officer. "CVR Partners is now better equipped to weather cyclical downturns, excel in dynamic market conditions and act on growth opportunities. We expect the enhanced strategic platform of the combined business will create value for our unitholders, customers and employees.
"We welcome East Dubuque's experienced management team and talented workforce to CVR Partners," Pytosh said.
In 2015, the Coffeyville plant produced 385,400 tons of ammonia and 928,600 tons of UAN, and the East Dubuque plant produced 340,300 tons of ammonia and 279,000 tons of UAN.
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