Finance

NJS Group completes acquisition of Yara Cameroun, which becomes Hydrochem Cameroun

Thursday, 30 November 2023 03:48
NJS Group completes acquisition of Yara Cameroun, which becomes Hydrochem Cameroun

(NJS) - NJS Group announces that it has today finalized the acquisition of YARA CAMEROUN shares from Yara International ASA. The transaction has been approved by the relevant authorities. Groupe NJS thus becomes the sole shareholder of Yara Cameroun and unveils its new identity, HYDROCHEM Cameroun, the name under which the company will henceforth operate.

The acquisition by NJS reflects the group's determination to broaden its offering for the agricultural sector, currently focused on the controlled development of livestock farming. The complete takeover of the company by its historical minority shareholder paves the way for ambitious expansion plans.

With its strong focus on agriculture, the NJS Group, founded by Cameroon poultry industry pioneer NOUTCHOGOUIN Jean Samuel, has been renowned for over forty years for its implementation of sustainable farming practices backed by significant investment and efficient operations management. Thanks to its extensive presence, covering not only Cameroon but also neighboring countries in the CEMAC zone, the NJS Group is well placed to support food security, growth and innovation in this key sector.

To consolidate their collaboration, Yara International ASA and Groupe NJS have signed an exclusive distribution agreement for the top-of-the-range NPK fertilizers YaraMila and YaraLiva Nitrabor Calcium Nitrate. Under this agreement, the NJS Group and its subsidiary HYDROCHEM guarantee the supply of these key products to Cameroonian farmers and agricultural retailers. As an essential part of this agreement, Yara International ASA will provide technical and operational support to the NJS Group.

In line with its policy of excellence, the NJS Group reaffirms its ambition to promote best agricultural practices in order to increase crop productivity in Cameroon, and will continue its policy of supporting farmers on a daily basis to constantly improve agronomic crop results and popularize new techniques. Following the example of the Group's historical activities in recent years, an investment program will be implemented in fertilizer production to take full advantage of the market's growth potential.

The NJS group commented: "We are delighted with this important transaction, which is the culmination of a long-term partnership, and would particularly like to thank the Yara Cameroun staff and the customers who have supported Yara Cameroun over the years. We are delighted to welcome new employees to the NJS family. We would also like to thank Yara International ASA, our long-standing partner, for finalizing this transaction. Our strategy remains anchored in our values and in our long-term vision of agriculture and the development challenges of a key sector on our continent."

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