Dubai : Fertiglobe, a leading nitrogen fertilizer producer backed by ADNOC, has announced the acquisition of Wengfu Australia Pty Ltd.’s distribution assets, marking a significant expansion into the Asia-Pacific region.
Wengfu Australia operates from five ports and eight warehouses in South-East Australia, distributing between 700,000 to 800,000 tonnes of fertilizers annually to over 200 customers. The company has the capacity to scale up to 1.1 million tonnes per annum, positioning it as a leading supplier in one of the world’s fastest-growing agricultural markets.
The acquisition aligns with Fertiglobe’s strategy to diversify its global footprint and build resilience against market seasonality. It also enables Fertiglobe to expand its product portfolio to include non-nitrogen fertilizers and enhances its ability to source and deliver products across the Asia-Pacific region.
Ahmed El-Hoshy, CEO of Fertiglobe, stated, “This acquisition accelerates our commercial footprint in Australia and provides us with a strong distribution platform across the Asia-Pacific region. Having known Wengfu’s team for several years, we have strong confidence in their ability to grow the business from here.”
The purchase price will be based on the net asset value, consisting of fully recoverable net working capital and liquid inventory, plus a premium of approximately $8 million.
This move follows ADNOC’s recent increase in its shareholding in Fertiglobe to 86.2%, reinforcing Fertiglobe’s position as a key player in the global nitrogen industry and supporting its ambitions to lead in low-carbon ammonia production.
