February 4, 2019 / 12:14 PM / 3 months ago

France's Suez, Avril plan tie-up in organic fertilizers

PARIS, Feb 4 (Reuters) - Waste and water company Suez and agricultural group Avril have agreed to partner in the market for organic fertilizers, they said in a statement on Monday.

* Suez is to acquire a 32 percent stake in Avril’s Terrial unit and transfer its compost activities to the business. It has an option to increase its stake in the future to 50 percent.

* The value of the investment was not disclosed.

* The partners aim to boost Terrial’s organic fertilizer output in France to nearly 1 million tonnes annually within five years, compared with 280,000 tonnes in 2017, and become one of the largest suppliers in the segment, they said.

* Terrial, which had sales of 30 million euros ($34.34 million) in 2017, uses organic waste, notably from livestock farms, to produce fertilizer and also biogas.

* The unit would seek to cater in particular for organic farms that do not use mineral fertilizer, Suez and Avril said.

* The tie-up with Suez, subject to regulatory clearance, is expected to be launched in the first half of 2019. ($1 = 0.8737 euros) (Reporting by Gus Trompiz, editing by Ed Osmond)

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