Agrofert forms AGF Nitrogen

Czech-headquartered Agrofert Group has established a new sub-holding company, AGF Nitrogen, a.s., to coordinate the activities of its pan-European chemical division. The vehicle went live on 1 July 2026, and Agrofert said its aim is to achieve synergies through economies of scale, raise efficiency and cut operating costs. Employees, customers and business partners are not directly affected by the reorganisation.

Petr Cingr, Vice-Chairman of the Board of Directors of the Agrofert Group, becomes Chairman of the Board and Chief Executive of AGF Nitrogen. To take on the new role, Cingr resigned as Chief Executive of Germany’s SKW Stickstoffwerke Piesteritz GmbH on 30 June, and will keep contact with the Piesteritz business through the position of Chairman of the Supervisory Board. Carsten Franzke, previously Chief Operating Officer at SKW Stickstoffwerke Piesteritz, took over as Chief Executive of the Piesteritz company on 1 July. The rest of the Piesteritz management team is unchanged.

The restructure follows two significant additions to Agrofert’s European nitrogen footprint. The group closed its acquisition of Borealis’s fertilizer, melamine and technical nitrogen business — since rebranded LAT Nitrogen — on 5 July 2023 at an enterprise value of €810 million ($955 million), gaining production sites in Austria, France and Bulgaria alongside its existing German assets. On 31 March 2026, Agrofert then closed the €290 million ($342 million) purchase of OCI Ammonia Holding B.V. from Amsterdam-listed OCI Global, comprising OCI Terminal Europoort — an ammonia import and storage terminal in Rotterdam — and OCI Ammonia Distribution, OCI’s third-party European distribution platform. In a separate transaction announced on 1 June 2026, OCI Global agreed to sell 50% of OCI Nitrogen, which runs the Geleen ammonia and fertilizer complex in the Netherlands, to Agrofert for half of a €110 million enterprise value, with completion expected by H2 2027 and put/call options over the remaining 50% exercisable from two years after closing.

“The European production of fertilizers and other nitrogen products, like almost the entire chemical industry, is in crisis. However, any crisis also represents an opportunity for future growth for us, and at Agrofert we have proven many times that we can grasp these opportunities correctly,” said Cingr. “With the acquisitions of the companies of the LAT Nitrogen Group and recently OCI Ammonia holding, the Agrofert Group has made it clear that it believes in the future of the chemical industry in Europe and that our employees, customers and business partners can rely on us. However, this future success requires organizational adjustments within the group.”