Honeywell ( HON ) today said that it has signed an agreement with the J.R. Simplot, a privately held food and agribusiness company, to build a facility that will produce Honeywell's Sulf-N 26, a fertilizer that combines the agronomic benefits of nitrate-based fertilizers with lower explosive potential.
Under the deal, HON will engineer, construct and own a modular manufacturing facility at Simplot's Lathrop, CA production plant. Simplot will operate the facility and have exclusive rights to market and sell the fertilizer in the Western U.S., Western Canada and Northern Mexico.
The companies hope to have the facility built and producing the fertilizer by early 2013.
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