Jan 8 Canadian fertilizer company Agrium Inc
said on Wednesday it will restructure its three
divisions into two business units, wholesale and retail, in the
first quarter of 2014 as it moves to become more efficient.
Following a recently completed strategic review of its
Agrium Advanced Technologies (AAT) business unit, Agrium said it
decided to transfer AAT's agriculture business to the wholesale
The remaining parts of AAT, the turf and ornamental, and
direct solutions businesses, will undergo further review, and
could possibly be sold.
AAT was the smallest of Agrium's three divisions.
Agrium spokesman Richard Downey said the company had not yet
determined how many jobs would be cut, but some business support
functions based in Colorado "will disappear."
In November, Agrium, which is based in Calgary, Alberta,
reported a sharply lower third-quarter profit and a
disappointing forecast for the fourth quarter.
Uncertainty in fertilizer markets, combined with a late
North America growing season, caused many buyers to delay
purchases of crop nutrients.
Downey said the reorganization had nothing to do with
pressure from activist investor Jana Partners. Jana, which at
one point was Agrium's largest shareholder, pushed for a breakup
of the company last year, and has since cut its stake in the