WINNIPEG (Reuters) — Canadian fertilizer producer Agrium Inc. will cut 500 jobs and look to sell several non-core businesses as it aims to find $475 million in savings by 2017, chief executive officer Chuck Magro said Nov. 5.
Agrium will also target savings from reducing working capital at its farm retail business and trimming operating and administrative expenses.
Among the businesses Agrium will try to sell are its micronutrients and European UAN (urea-ammonium nitrate) lines.
“These are not core to our strategy,” Magro said at the company’s annual investor day in Toronto. “We have better uses for our capital.”
