MERGER NEWS IMC, Cargill to Form Fertilizer Giant

UNITED STATES American fertilizer giants IMC GLOBAL of Chicago and CARGILL CROP NUTRITION, a unit of CARGILL INC. of Minneapolis, are set to merge under the name, MOSAIC.

The new company is expected to have annual revenues of over US$4 billion. Operations will include phosphate production in Florida and Louisiana and four potash mines in Saskatchewan--two at Esterhazy, one at Belle Plaine and one at Colonsay--as well as two in the United States. Mosaic will also be a 50% owner in Saskatchewan-based SASKFERCO PRODUCTS, a nitrogen producer.

The combination is subject to regulatory approval in the United States, Canada and other countries as well as the approval of shareholders. More information is available at www.IMCglobal.com and www.CargillCropNutrition.com.