Cooperation between Hydro Agri France and Phosyn moves one step further

(Jan. 21, 2003) Hydro Agri France will take over management of the French subsidiary of the English trace element and foliar nutrient specialist Phosyn as from January 1, 2003. 12 Phosyn employees joined Hydro Agri France at the beginning of 2003.

Hydro Agri France in 1997 purchased 35% of the shares of the English company Phosyn, a specialist in trace elements and foliar nutrition, and the two companies now have decided to take their cooperation one step further.

As from January 1, 2003 Hydro Agri France has taken over the management of the Phosyn France and been nominated exclusive distributor of Phosyn products in France. From the same date, 12 employees of Phosyn France have joined the ranks of Hydro Agri France.

Hydro Agri France is developing its sales of speciality fertilizers, and the Phosyn France business comes in addition to the activities of SQM in France, transferred in 2002 within the context of the strategic alliance between SQM and Hydro Agri. Hydro Agri France is expecting sales of Specialities to reach 33 mill EUR in 2003.

A team of foliar nutrition specialists will be put together within the Hydro Agri France Spécialitiés organisation to market the Phosyn products and the range of trace elements produced at Issoudun. Eric Gantoy, previously President Sales and Marketing of Phosyn France, will be the head of the new team.