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Petrobras acquires Vale’s Auracária fertilizer business; report predicts takeover of Petrobras’s styrenics unit Innova

5:21 PM MST | December 20, 2012 | —Kara Sissell

Brazil’s state oil company Petrobras (Rio de Janeiro) has entered into an agreement with mining company Vale (Rio de Janeiro) to acquire Araucária Nitrogenados, in Araucária, Paraná State, Brazil, for $234 million, Petrobras says. Araucária Nitrogenados produces 700,000 m.t./year of urea; 474 m.t./year of ammonia; and 450,000 m.t./year of the reagent Arla 32, used in selective catalytic reduction. “This plant complements Petrobras’s additional fertilizer assets, allowing for close proximity to markets in São Paulo and Paraná, greater storage capacity...

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