Saturday, May 22, 2010

CF Industries (NYSE:CF) Sees Savings from Terra Acquisition on High End

Only a short time after acquiring Terra, CF Industries (NYSE:CF) says it looks like the two companies have more synergies than expected, and savings should be on the high end of the $105 million to $135 million estimated, in about two years. That's figured on an annual basis.

Some of the particular segments of the company which will benefit strongly are vendor services, transportation, an storage, according to CF President and CEO Steve Wilson.

Wilson said he is "confident" after the early results have come in, and they haven't "been that hard to identify and realize so far."

CF took over Terra for $4.72 billion after pursuing the company for about a year, bidding against major competitors like Agrium (NYSE:AGU) and Yara International.

This make CF Industries the largest producer of nitrogen in North America, and second-largest in the world.

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