Building the Future

In 2005 Yara celebrated its first century of accomplishments and set a clear ambition for the next to take the lead in shaping a more sustainable industry.

Yara President and CEO, Thorleif Enger, set a target of consolidating the company’s global leadership – and the goals of becoming the acknowledged driver of the fertilizer industry and a leading provider of industrial products for environmental protection and food care.

Ambition
It was also stated that the ambition to create a successful future would require a change in attitude, the adoption of new perspectives and a focus on delivering on promises.

The ambition level may have been raised, but Yara based its ambitions on accomplishments: global leadership in ammonia, nitrates and balanced and specialty fertilization; an extensive global marketing network; and the technological innovation to create new industrial applications.

Despite its position of strength, Yara believed there was plenty of room to grow into its second century. Not only were key markets in Latin America and Asia predicted to increase, the nitrogen fertilizer industry was seen as extremely fragmented.

Mission
Yara’s name comes from an old Viking term linked to harvest and yield and the quest for “better yields” became the company mission. This meant delivering both products that give bigger and better crops with minimal ecological impact farmers and financial growth and dividends for investors.

To do this – and achieve the long-term ambition of shaping the industry – a clear strategy was outlined. Yara would remain cost-effective and hone its operational edge. Growth would continue through expanding capacity and well-timed acquisitions. Leadership would maintain focus on product and technological advancement and business improvements.

Transformation
By 2005, Yara had more than just the hundred years of Norsk Hydro behind it. Key acquisitions like British Fisons, Swedish Supra and German Ruhr Stickstoff had contributed experience and heritage. Well-timed strategic investments and acquisitions had given Yara a global sales, production and logistics presence from the Americas to the Middle East, from Asia to Africa.