Profile: CF Industries Holdings Inc (CF.N)

CF.N on New York Stock Exchange

252.19USD
23 Jul 2014
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CF Industries Holdings, Inc., incorporated on April 15, 2005, is a manufacturer and distributor of nitrogen and phosphate fertilizer products worldwide. The Company operates in two segments: the nitrogen segment and the phosphate segment. The Company’s principal products in the nitrogen segment are ammonia, granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN).Its other nitrogen products include urea liquor, diesel exhaust fluid (DEF) and aqua ammonia, which are sold primarily to its industrial customers. Its principal products in the phosphate segment are diammonium phosphate (DAP) and monoammonium phosphate (MAP). The Company’s market and distribution facilities are concentrated in the midwestern United States and other agricultural areas of the United States and manufacturing facilities and phosphate fertilizer products from its Florida phosphate operations through its Tampa port facility. During the year ended December 31, 2012, the Company sold 13.0 million tons of nitrogen fertilizers and 2.0 million tons of phosphate fertilizers. In May 2013, CF Industries Holdings Inc acquired 34% stake in Canadian Fertilizers Ltd.

Nitrogen Segment

The Company is the nitrogen fertilizer producer in North America. Its primary nitrogen fertilizer products are ammonia, urea, UAN and AN. The Company operates seven nitrogen fertilizer production facilities in North America. The Company owns 100% of four production facilities in the Central United States and one in Ontario, Canada. The Company also has a 75.3% interest in TNCLP and its subsidiary, TNLP, which owns a nitrogen fertilizer facility in Verdigris, Oklahoma, and a 66% economic interest in CFL, a variable interest entity that owns the nitrogen fertilizer complex in Medicine Hat, Alberta, Canada. In 2012, the combined production capacity of these seven facilities represented approximately 39%, 34%, 47% and 22% of North American ammonia, granular urea, UAN and ammonium nitrate production capacity, respectively. Each of its nitrogen fertilizer production facilities in North America has on-site storage to provide flexibility to manage the flow of outbound shipments without impacting production.

The Donaldsonville nitrogen fertilizer complex is the nitrogen fertilizer production facility in North America. It has five world-scale ammonia plants, four urea plants, three nitric acid plants and two UAN plants. The complex, which is located on the Mississippi River, includes deep-water docking facilities, access to an ammonia pipeline, and truck and railroad loading capabilities. The complex has on-site storage for 130,000 tons of ammonia, 168,000 tons of UAN (measured on a 32% nitrogen content basis) and 83,000 tons of granular urea.

Medicine Hat is the nitrogen fertilizer complex in Canada. The facility is owned by CFL, a variable interest entity which the Company consolidates in its financial statements. It has two ammonia plants and a urea plant. The complex has on-site storage for 60,000 tons of ammonia and 70,000 tons of urea. The Company operates the Medicine Hat facility and purchase approximately 66% of the facility's ammonia and urea production, pursuant to a management agreement and a product purchase agreement. The Company ships its share of ammonia and urea produced at the Medicine Hat nitrogen fertilizer complex by truck and rail to customers in the United States and Canada and to its storage facilities in the northern United States. Viterra, Inc. (Viterra), which owns 34% of CFL, has the right, but not the obligation, to purchase the remaining 34% of the facility's ammonia and urea production under a similar product purchase agreement.

The Port Neal facility is located approximately 12 miles south of Sioux City, Iowa on the Missouri River. The facility consists of an ammonia plant, two urea plants, two nitric acid plants and a UAN plant. The location has on-site storage for 30,000 tons of ammonia and 81,000 tons of 32% UAN. The Verdigris facility is located northeast of Tulsa, Oklahoma, near the Verdigris River and is owned by TNLP. It is the second UAN production facility in North America. The facility comprises two ammonia plants, two nitric acid plants, two urea plants, two UAN plants and a port terminal. Through its 75.3% interest in TNCLP and its subsidiary, TNLP, the Company operates the plants and leases the port terminal from the Tulsa-Rogers County Port Authority.

The Woodward facility is located in rural northwest Oklahoma and consists of an ammonia plant, two nitric acid plants, two urea plants and two UAN plants. The facility has on-site storage for 36,000 tons of ammonia and 83,900 tons of 32% UAN. The Courtright facility is located south of Sarnia, Ontario near the St. Clair River. The facility consists of one ammonia plant, a UAN plant, a nitric acid plant and one urea plant. The location has on-site storage for 64,100 tons of ammonia, 10,400 tons of granular urea and 16,000 tons of 32% UAN. The Point Lisas Nitrogen facility in the Republic of Trinidad and Tobago is owned jointly through a 50/50 venture with Koch Fertilizers. This facility has the capacity to produce 720,000 tons of ammonia annually from natural gas supplied under a contract with the National Gas Company of Trinidad and Tobago.

The Company competes with Agrium and Koch Nitrogen Fertilizers.

Phosphate Segment

The Company is a manufacturer of phosphate fertilizer products. Its main phosphate fertilizer products are DAP and MAP. Its phosphate fertilizer manufacturing operations are located in central Florida and consist of a phosphate fertilizer chemical complex in Plant City, a phosphate rock mine, a beneficiation plant and phosphate rock reserves in Hardee County and a deepwater terminal facility in the port of Tampa. It owns each of these facilities and properties. The Company’s Plant City phosphate fertilizer complex is a phosphate fertilizer facility in North America. It operates a phosphate fertilizer warehouse located at a deep-water port facility in Tampa, Florida.

CF Holdings competes with Agrium, Mosaic, Potash Corp. and Simplot.

Company Address

CF Industries Holdings Inc

Suite 400, 4 Parkway North
DEERFIELD   IL   60015-2590
P: +1847.4052400
F: +1847.4052711

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