SQM Sells Olmeca

Chilean specialty fertilizer company Sociedad Quimica y Minera de Chile (SQM), has sold its total stake in Mexican firm Fertilizantes Olmeca to Norwegian firm Yara International for $4.9 million. SQM originally bought Olmeca in 1997 as a key distribution channel in Mexico but says that less than 25% of SQM specialty plant nutrients sold in that country are now distributed through the company. SQM retains a presence in Mexico via its subsidiary SQM Comercial de México.