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Stock impact report

Oil giant ADNOC partners with Sawiris' OCI to form fertilizer powerhouse [CNBC]

Comcast Corporation - Class A (CMCSA) 
Last comcast corporation - class a earnings: 4/30 07:00 am Check Earnings Report
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Company Research Source: CNBC
ADNOC partners with OCI to form fertilizer powerhouse VIDEO 3:58 03:58 Expecting a slowdown in the US is more realistic: OCI CEO Squawk Box Europe The Abu Dhabi National Oil Company (ADNOC) and the Netherlands-based OCI, a producer and distributor of natural gas-based fertilizers and chemicals, are joining forces, the companies announced Monday. The new joint venture will create the world's largest exporter of nitrogen fertilizer, as well as the largest producer in the and North Africa region. Speaking to CNBC's Hadley Gamble in Abu Dhabi, OCI CEO and Egyptian billionaire Nassef Sawiris pointed to consolidation as a key strategy for improving returns. "This is an industry that is not very proud that we can't achieve high single-digits return on capital employed. We have to do something to improve the returns and one is consolidate our various manufacturing platforms, pool them together and be able to serve our customers along multiple geographic regions," he said. The joint venture a Show less Read more
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