Norway/Austria: Yara International intends to acquire the flue gas cleaning division of STRABAG SE, in a move that consolidates Yara's position as a global, full-service emissions-to-air control company. STRABAG stated that it is selling its flue gas cleaning division in order to focus on its core construction business.
"Our acquisition of STRABAG's flue gas cleaning division will increase our capacities in, and beyond, NOx control systems. It will also give us access to great teams in key growth markets like Asia and Eastern Europe, where we can help customers meet increasingly stringent environmental regulations," said Yves Bonte, Senior Vice-President and head of Yara's Industrial Segment.
With flue gas cleaning, Yara can provide an end-to-end service that includes the production of Selective Catalytic Reduction (SCR) and Selective Non-Catalytic Reduction (SNCR) systems to reduce Nitrogen Oxide (NOx) emissions, along with the reagents needed to operate them.
The STRABAG acquisition is part of Yara's broader strategic direction to invest in products and services that address the related issues of environment, resources and food security. In January 2014 Yara acquired H+H Umwelt-und-Industrietechnik GmbH, which primarily produces SCR systems to reduce Nitrogen Oxide (NOx) emissions on ships. In April 2014 Yara also took a majority stake in Green Tech Marine, a leading Sulphur Oxide (SOx) scrubber supplier to the marine industry.
The transaction is subject to approval by the Austrian competition authority and other regulatory approvals. It is expected to be completed by the end of August 2014.
