CF Industries has completed its acquisition of the remainder of fertiliser manufacturer GrowHow UK, which has sites in Cheshire and County Durham, for $580m (£371m).
The New York Stock Exchange-listed nitrogen fertiliser manufacturing and distribution giant made the announcement as it reported its results for the quarter ending 30 June 2015.
The company said it officially acquired the remaining interest of GrowHow UK on 31 July, with the deal bringing the number of CF Industries' consolidated nitrogen complexes globally to nine.
Meanwhile, CF Industries has told investors that it achieved net sales of £838.9m in the three months ending 30 June 2015, up from £942.2m a year earlier. And earnings before interest, taxes, depreciation and amortisation climbed to £428.3m from £392.2m over the same period.
"Solid execution by our sales team and in our production facilities and distribution network led to the strong results for the quarter," said Tony Will, president and chief executive, CF Industries Holdings.
"Our financial results for the first half of 2015 demonstrate the sustainability of our cash generation capacity, even in a supply-driven, competitive global market."
At the start of July, CF Industries revealed that it had reached an agreement with Yara International ASA to acquire its 50 per cent equity interest in GrowHow UK to make the business a wholly owned subsidiary.
GrowHow UK's Ince facility in Cheshire consists of an ammonia plant, three nitric acid plants, an ammonium nitrate plant and three NPK fertiliser compound plants. The Billingham operation in County Durham consists of an ammonia plant, three nitric acid plants, a carbon dioxide plant and an AN fertiliser plant.
As of 31 May 2015, prior to purchase accounting and on a US generally accepted accounting principles basis, GrowHow had total inventories of £66m, receivables of £41m, and fixed assets of £195m. The company also had current liabilities of £43m, long-term payables of £14m, and a net pension deficit of £90m.