Acquisition of storage and transshipment assets in the Netherlands
Tessenderlo Group has agreed to acquire the assets of B.V. Fleuren Tankopslag, a tank storage and transshipment company for liquid products located in the Port of Cuijk (the Netherlands). The acquisition is expected to be completed by May 1, 2022, at the latest.
After completion of the acquisition, Tessenderlo Group intends to integrate the Fleuren Tankopslag operations within Tessenderlo Kerley International. The acquisition will further strengthen our position in the Western European liquid fertilizer market. While securing in the longer-term the business of Fleuren’s incumbent customers, it will also provide additional storage for our portfolio of liquid fertilizers, including Thio-Sul®, KTS®, and APP (ammonium polyphosphate) fertilizers.
Its location by the Maas River and its close connection to our new plant that is due to be constructed in Geleen (the Netherlands) will allow for easier and more sustainable connections for transport of Thio-Sul® via waterways into the Netherlands, Germany, and France. Construction works on the Geleen plant are planned to start in April 2022 and the factory is scheduled to be operational in the second quarter of 2023.