“We’re looking at all kinds of ways that we can expand our presence in those markets,” Chief Executive Officer Jim Prokopanko said today in a telephone interview. “Doing it at the trough is an important part of our acquisition strategy.”
Mosaic, which is based in Plymouth, Minnesota, last month agreed to buy fertilizer distribution assets in Brazil and Paraguay from Archer-Daniels-Midland Co. for $350 million. Prices for phosphate and potash, which Mosaic also produces, have declined over the last year.
“In any commodity, you don’t want to buy at the peak of the market,” Prokopanko said. “I think we’re coming out of a cyclical trough in both potash and phosphate and that is the time to do your acquisitions.”
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