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Mexico s state-owned oil company incorporates the business into its industrial unit Pemex TRI
M&ACorporate & Sovereign StrategyEnergyRegulationMexico Mexico s state-owned oil company Pemex said it has dissolved its fertilizer division, Pemex Fertilizantes, and incorporated the operations into its industrial unit, Pemex Transformación Industrial (Pemex TRI).
The change will not affect Pemex Fertili
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1/28/2021
MEXICO CITY, Jan 28 (Reuters) - Mexico s Petroleos Mexicanos
(Pemex) said on Thursday it has wound up and absorbed its
fertilizer unit, which was linked to a high-level corruption
investigation into a former boss of the state oil company.
Pemex board members earlier this month voted to dissolve
Pemex Fertilizantes and carry over the unit s operations to its
industrial arm, Pemex TRI, Pemex said in a statement.
The move, effective this month, would not affect Pemex
Fertilizantes payment obligations, it added.
Pemex Fertilizantes was used to purchase a derelict
fertilizer plant from steelmaker Altos Hornos de Mexico under
Mexico s last president, Enrique Pena Nieto.