Yara and Wilhelmsen strengthen collaboration in maritime emissions reduction market

21 oktober 2013 Yara and Wilhelmsen Maritime Services (WMS) have entered into a new collaborative agreement on emissions to air in the marine sector. The agreement establishes  direct collaboration and enables both companies to focus on core strengths in reducing nitrogen oxides (NOx) emissions to air from commercial vessels. This agreement provides for Yara to take over ownership of Yarwil's NOx abatement technology, for Selective Catalytic Reduction (SCR), and further develop it for use in the marine emissions to air market. Wilhelmsen Maritime Services  will continue as a distributor in the maritime market. Successful business in growing market "The market for this environmental technology is rapidly increasing and we expect to see a steady growth with adoption of such systems by commercial vessels. We look forward to continuing in a more direct way our close cooperation with Wilhelmsen with regards to the nitrogen chemistry and technology for maritime emissions abatement," said Yves Bonte, Head of Yara's Industrial segment. Dag Schjerven, president and CEO of Wilhelmsen Maritime Services explained the background for the new collaboration: "Yarwil and the NOxCare Marine solution have been successful, but the competitive environment in their main markets has gotten steadily tougher, putting increasing pressure on prices and profitability. A leaner supply model is therefore needed to counter this development." Further development A lean and cost efficient global sales and distribution organization will be established, building on Yara's existing sales and supply structure and utilizing Wilhelmsen Maritime Services' worldwide network. Furthermore, Yara will acquire the sulfur oxides (SOx) scrubber development project from Maritime Protection, recently acquired by Wilhelmsen Technical Solutions. A commercial agreement will be established, securing Wilhelmsen Technical Solutions the right to sell the technology when it has become commercially available. WMS and Yara entered the market in 2007 with the Yarwil joint venture, offering NOx abatement solutions under the NOxCare brand. Yarwil and its employees will be transferred to the two parent companies respectively. For further information, please contact: Yara International Esben Tuman Vice President Corporate Communications Phone: +47 905 08 400 e-mail: esben.tuman@yara.com Wilhelmsen Maritime Services Tor Øiseth Vice President, Business Development Wilhelmsen Maritime Services Telephone: Direct line: +47 6758 4239 | Mobile: +47 9507 0051 E-mail: tor.oiseth@wilhelmsen.com | Internet: www.wilhelmsen.com About Yara: Yara delivers solutions for sustainable agriculture and the environment. Our fertilizers and crop nutrition programs help produce the food required for the growing world population. Our industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always our top priority. For further details, please visit www.yara.com About Wilhelmsen Maritime Services: Wilhelmsen Maritime Services is a Wilh. Wilhelmsen group company. It occupies a leading position in the maritime service industry and works through three business areas; Wilhelmsen Technical Solutions, Wilhelmsen Ship Management and Wilhelmsen Ships Service offering shipyards, owners, charterers and management companies a comprehensive range of engineered solutions, products and services which significantly improve customers' operational efficiency. For further details, see www.wilhelmsen.com/maritimeservices This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Yara International ASA via Thomson Reuters ONE [HUG#1736863]