FNA Fertilizer Limited Partnership extends public meetings

Posted by on Oct 19, 2012 in Media Releases |

SASKATOON — Farmers of North America Fertilizer Limited Partnership (FNA FLP) is just over a week into a series of public meetings that began October 9 across Alberta, Saskatchewan and Manitoba. Based on the enthusiasm of those who have attended the meetings so far, FNA FLP announced it is adding meetings in some areas as a response to the interest being shown. Days after FNA FLP became an active business in every province in Canada, it began conducting a series of public meetings, with over 40 communities hosting events. FNA FLP spokesperson, Bob Friesen, who has been at the meetings in Manitoba this week, said “Of all the meetings I’ve attended as a farm leader, I’ve never seen farmers embrace an issue as enthusiastically as this one.” At the time of this release, 29 meetings have been completed in towns in Alberta, Saskatchewan and Manitoba. Meetings are also planned for Ontario where harvest progress is slower, likely in November. The public meetings are a central part of ProjectN, the plan to build a fertilizer plant in Western Canada. “These meetings provide farmers an opportunity to provide input, and have their questions answered in person. They can also purchase seed capital on the spot,” said Friesen. “Since FNA FLP was launched, uptake of seed capital units by farmers has exceeded our greatest expectations.” The seed capital will ensure the project can fund the necessary engineering, financial modeling and other studies that are required. – 30 – Farmers of North America is a farmers’ business alliance with the mission of “Improving Farm Profitability.” FNA Fertilizer Limited Partnership is a separate legal entity designed to align farmers together to build a fertilizer plant. For more information: Cathi O’Neill, FNA & FNA FLP Media Co-ordinator | (306) 665-4537 Bob Friesen, FNA FLP Spokesperson & FNA VP Government Affairs | (613) 230-2222 / (613) 852-9711 |...

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FNA Fertilizer Limited Partnership retains BMO Capital Markets

Posted by on Oct 2, 2012 in Media Releases |

SASKATOON — FNA Fertilizer Limited Partnership (FNA FLP) today announced that it has retained BMO Capital Markets as its strategic advisor in the development of a project to establish a fertilizer plant, and to assist in obtaining the necessary strategic partner(s) to take the project to the next level. FNA FLP recently announced it is proceeding with a plan to build a nitrogen fertilizer plant, and interest from farmers is growing quickly. Based on this demand, the work on developing an equity investment package for farmers is accelerating. “We are very pleased to be working with BMO on this project,” stated FNA FLP spokesperson Bob Friesen. “They have a strong track record with projects of this nature and the fertilizer sector, and we believe they understand our goal of maximizing farmer participation.” The involvement of farmers in the project is key to its success, as it is expected that farmer investment in the plant will include a level of off-take commitment for the nitrogen fertilizer it produces. This direct link between the nitrogen fertilizer produced and the end-user grower brings to the project strong farmer ownership, a stable base of predictable customers for the plant and some security of supply for the farmers involved. Also important will be choosing the right plant operator. “FNA FLP is not an expert operator, and that will be an important piece of the puzzle. With a great deal of experience in similar projects, BMO will help us find the right partner on the right terms,” Friesen said. The project is expected to move into a farmer equity investment phase in the coming months. – 30 – Farmers of North America is a farmers’ business alliance with the mission of “Improving Farm Profitability.” FNA Fertilizer Limited Partnership is a separate legal entity designed to align farmers together to build a fertilizer plant. For more information: Cathi O’Neill, FNA & FNA FLP Media Co-ordinator | (306) 665-4537 Bob Friesen, FNA FLP Spokesperson & FNA VP Government Affairs | (613) 230-2222 / (613) 852-9711 |...

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FNA Announces Limited Partnership moving on fertilizer plant

Posted by on Sep 26, 2012 in Media Releases |

SASKATOON — A new fertilizer plant to serve the Canadian market has moved from the conceptual stage to full project development, where farmers are getting involved. Today FNA announced that a new business in the form of a limited partnership, the FNA Fertilizer Limited Partnership, has been created specifically to provide farmers a mechanism for ownership of a new fertilizer manufacturing facility. In turn, FNA Fertilizer Limited Partnership has launched a formal project named “ProjectN” (as in Project Nitrogen fertilizer) which will begin raising seed capital immediately. It had been previously reported that FNA was “pondering” the idea of building a fertilizer plant, but no direct actions to that end have been publicly disclosed until now. “It needs to be clear that FNA is not talking about getting into the manufacturing business itself,” said spokesman Bob Friesen. “Rather, as we have done in the past, we are organizing and providing the catalyst to see a fertilizer plant built. Participation in fertilizer manufacturing will allow farmers to capture more of the value chain.” The ProjectN working group has conducted a review of the sector, analyzed natural gas pricing, plant scale, market demand, competitive supply and other indicators framing the business case for a new development. The results of these preliminary investigations have been positive. “The business case is compelling,” said Friesen. “The real question is if and to what extent farmers want to gain a return on investment to offset the high cost of fertilizer rather than merely paying for it. Whether or not farmers participate, they will pay for new fertilizer plants indirectly as part of the base fertilizer cost.” He added that since North America imports nearly seven million tonnes of fertilizer a year, it is obvious that farmers are paying for all the plants that now exist and the profits they make. The intention of FNA Fertilizer Limited Partnership (FNA FLP) to connect committed purchase contracts for the products of the fertilizer plant to farmers that will own an equity stake in the plant provides a unique form of stability and risk mitigation to underpin the success of the project, while providing farmers a certainty of supply of a key farm input. FNA has already gauged a high level of interest in its Membership. To further solidify and document farmer commitment, today FNA FLP is launching a seed capital raise. A new website, www.ProjectN.ca, has been created where Members and non-members can indicate their interest and sign on to commit to the project. The website will provide core information about the fertilizer industry, the nature of the tasks involved in building a plant and the benefits and commitments Members may expect once the plant is built. The...

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