Universal Capital Buys Stake in Urea Producer

Universal Capital Management (Wilmington, DE) says it has signed a memorandum of understanding to purchase up to 43% of NB Regeneration (Royal Palm Beach, FL). NB Regeneration is in the process of developing a nitrogen fertilizer facility in Panama that will be capable of producing up to 4,000 m.t./day of granulated urea. “Industry forecasts project continued 5%–6% annual growth in demand for urea, and with excellent margins,” says Michael Queen, CEO of Universal Capital Management. NB Regeneration says it is working out agreements with...

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