PWNI falls further as India heavily influences most fob values
Hexagon Group AG and Aries Fertilizers Group Pte Ltd have announced that Hexagon has acquired 100% of the shares of Aries, effective from today (30 June).
In a statement, Hexagon states it will expand its presence in the field of trading, marketing and logistics of fertilizers to Asia, setting the base for further growth in the global market.
The full press release announcing the news can be found below.
Hexagon Group AG acquires Aries Fertilizers Group PTE Ltd
Zurich / Singapore, June 30, 2022
Hexagon Group AG (“Hexagon”) and Aries Fertilizers Group Pte Ltd (“Aries”) are pleased to announce that Hexagon has acquired 100% of the shares of Aries, effective today. With this step Hexagon expands its presence in the field of trading, marketing and logistics of fertilizers to Asia and sets the base for further growth in the global market. In the business segment of trading of fertilizer raw materials Hexagon will strengthen its already existing global footprint through this acquisition.
“Today is a great day for Hexagon”, says Mr. Christian Wendel, Executive Chairman of Hexagon, and adds: “We have been eyeing at Asia / Pacific for quite some time as this is the world’s largest economic area already today with an enormous growth potential. Aries has been a strong player in Asia for many years, and the company enjoys an excellent reputation in the market. We are happy and proud to take over a company that has posted good results year after year, and we have no doubt that Aries will continue to be a success story.” Mr. Bhushan Rao, Founder and Deputy Chairman of Aries says that “we are pleased to state that after establishing and conceptualizing Aries Fertilizers Group, the company has grown from an infant stage to a mature and responsible international trading house. We are now handing over our company into the capable hands of Hexagon Group and we are convinced that they will take Aries to the next level.”
The two companies will operate under separate management. Mr. Pushkar Jamnerkar will continue to lead Aries as CEO out of its existing headquarters in Singapore, while Mr. Santiago Orol will carry on running Hexagon Trading AG as CEO out of Hexagon Group’s headquarters in Zurich, Switzerland.
About Hexagon Group AG
Hexagon has been established in November 2018 in Zurich, Switzerland. The founding partners were experienced executives from the fertilizer business on the one hand, and investors from South America on the other hand. The operative company Hexagon Trading AG has three business areas: Fertilizer trading and marketing in Europe / North Africa, fertilizer raw materials trading (mainly sulfuric acid, sulfur and ammonia) globally, and marketing of soluble fertilizers. Headquarters of both Hexagon Group and Hexagon Trading is Zurich with a subsidiary in Santiago de Chile. Hexagon has also a presence in Rotterdam for EU-related matters. Last but not least there is a network of exclusive agents who are located in key markets in Europe and North Africa.
In December 2020, Hexagon acquired part of Geneva-based Triptik Trading SA, a company that is trading and marketing methanol, aromatics and gasoline components. Triptik has offices in Shanghai and Houston. Both companies in aggregate traded around 3 million tons of different products in 2021 with a consolidated turnover of USD 1 billion.
About Aries Fertilizers Group Pte Ltd
Aries has been established in April 2012 in Singapore as a joint venture company between a Chinese State-Owned Enterprise (SOE) and a group of professional traders. The founding partners were experienced executives from the fertilizer business who came to join hands with the largest phosphate producer in China. Today, the company has three business areas that are all focusing on Asia / Pacific: Fertilizer trading and marketing, fertilizer raw materials trading (mainly phosphoric acid & sulfuric acid and sulfur), and marketing of water-soluble fertilizers. Headquarters are in Singapore, and there are own representatives in various Asian countries as well as a network of exclusive agents who are located in key markets across the region.
The company has traded approximately 1.5 million tons of different products and generated a turnover of close to a USD $ 1 billion in 2021. The company is proud to be the largest trader of phosphates from China with the lion share allocated in South Asian markets.
Related News
