Cronus Fertilizers Announces New Shareholder to Advance Tuscola, Illinois Project
Cronus Fertilizers announced today that Titan Chemicals Holding, an entity controlled by Keyman-Avunduk Investment Company AG (KAIC) has become the majority shareholder for its Tuscola, Illinois Ammonia project.
KAIC brings additional financial backing and industry experience to advance the planned facility. Upon completion, the Tuscola facility will be one of the largest of its kind in the United States.
Melih Keyman is the president, CEO and founder of KEYTRADE AG, founder of KAIC and a veteran of the fertilizer industry. Keyman also serves on the board of The Fertilizer Institute, is an Ambassador of the International Fertilizer Association and a trustee of Northwestern University. As an investor in the project, Keyman has also joined the board of Cronus Fertilizers as Chairman.
The Cronus Fertilizers facility in Tuscola will produce up to 2,300 metric tons of ammonia per day, giving regional farmers access to locally produced ammonia and largely eliminating the need for imported products. The facility will be a major new source of ammonia for the agricultural industries of the Midwest Corn Belt. Cronus previously announced an updated plant design that focuses on ammonia and on-site delivery.
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