Yara has seen strong growth prospects in environmental abatement solutions and technology over time, and as part of this effort it saw an opportunity to acquire Green Tech Marine in 2014 to strengthen its capabilities within marine abatement technology. The business has developed very well, confirming the potential of its technology to deliver solutions to new emission regulations.
YMT today offers a complete SOX and NOX abatement solution portfolio to the marine segment, and is among the world's top three scrubber suppliers, well positioned for growth as the new IMO marine sulphur emission regulations come into force in 2020. YMT sales are set to reach around NOK 700 million in 2018, and are expected to more than double from 2018 to 2019.
"Entering the next growth phase for YMT, it is natural to consider whether a new ownership structure may be the best way forward both for Yara and YMT. Yara has a long history of adjusting its portfolio when the conditions are right, most recently with the divestments of GrowHow UK in 2015 and the CO2 business in 2016. We will continue to evaluate both acquisition and divestment opportunities based on their value creation potential," says Svein Tore Holsether, President and Chief Executive Officer of Yara International ASA.
Yara is currently evaluating different options for YMT, and no decisions have yet been made regarding its future ownership. The YMT business is performing strongly, and will continue to operate and invest according to its current plans.
Communiqué de Yara, septembre 2018