December 5, 2013
– In an effort to better reflect the scope of its business and vision for the future, Koch Fertilizer will change its name to Koch Ag and Energy Solutions, with the newly renamed entity serving as a holding company for Koch Fertilizer, Koch Energy Services and Koch Methanol. The change will take place early in 2014.
Steve Packebush, who has been president of Koch Fertilizer, LLC since 2003, will be president of the holding company.
Along with the name change and new holding company, Chase Koch will become president of Koch Fertilizer and Kurt Kolbeck will become president of Koch Energy Services.
According to Packebush, “Since acquiring Farmland’s fertilizer plants and terminals in 2003 we’ve grown and globalized this business and expanded beyond fertilizer. This name change and reorganization will better position us to continue to innovate and pursue even more strategic growth opportunities within the agriculture and energy sectors.”
Koch Fertilizer, LLC and its subsidiaries are among the world's largest producers and marketers of fertilizer products. Subsidiaries own or have interests in nitrogen fertilizer plants in the United States, Canada, and Trinidad and Tobago. The companies cover global demand through an extensive supply, storage and distribution system that includes terminals in the U.S., Canada, Mexico, Brazil, Australia, France and the United Kingdom. Koch Fertilizer companies offer an industry-leading portfolio of products such as the AGROTAIN®, Nexen® and Nitamin brands of high performance fertilizers, and have the capability to market and distribute more than 13 million tons of fertilizer products annually.
Koch Fertilizer recently announced plans for its largest initiative ever with the proposed expansion of existing ammonia production and construction of a new urea plant at Koch Nitrogen Company, LLC’s Enid, Okla. facility.
In October, a Koch Energy Services, LLC subsidiary announced it had entered into an agreement with affiliates of Energy Capital Partners, LLC to acquire a natural gas combined cycle electric power generating facility in Odessa, Texas. The electric power generating facility, located in the Permian Basin region of west Texas, has a capacity of 1,055 megawatts. The facility provides electric power to the Electric Reliability Council of Texas (ERCOT) system, a power market serving 23 million Texas customers and representing 85 percent of the state's electric load. The transaction is subject to customary conditions and regulatory approvals and could close late in the fourth quarter of 2013 or early in the first quarter of 2014.
About Koch Industries, Inc.
Based in Wichita, Kan., Koch Industries, Inc. is one of the largest private companies in America with annual revenues of about $115 billion. It owns a diverse group of companies involved in refining, chemicals and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; minerals; commodity trading and services; ranching; glass; and investments. Since 2003, Koch companies have invested about $60 billion in acquisitions and other capital expenditures. With a presence in nearly 60 countries, Koch companies employ about 60,000 people worldwide. In 2012, Koch companies employed more than 47,000 people in the United States and paid compensation and benefits totaling more than $4 billion. From January 2009 to present, Koch companies earned about 770 awards for safety, environmental excellence, community stewardship, innovation, and customer service.