Take stock_May 22

Agrium Inc. (TSX:AGU) will go ahead with construction of new $36-million “environmentally smart nitrogen” fertilizer plant in Missouri, the Calgary-based fertilizer giant said Thursday.

Agrium to build fertilizer plant in Missouri

Agrium Inc. (TSX:AGU) will go ahead with construction of new $36-million “environmentally smart nitrogen” fertilizer plant in Missouri, the Calgary-based fertilizer giant said Thursday. The city of New Madrid will host the facility, expected to produce about 120,000 tons of fertilizer per year. “We selected New Madrid due to its great access to markets, its skilled workforce and its location on the Mississippi River, making it ideally suited for our business,” said Agrium president of advanced technologies Andrew Mittag. The new facility will bring Agrium’s total production capacity for the environmentally smart nitrogen, or ESN, product to 360,000 tons. Construction on the new plant is expected to begin in June. It will open in 2010, and have 18 full-time employees.

Cross-border investment up in March: Statscan

Statistics Canada says cross-border investment activity strengthened in March, as global financial markets appeared to be stabilizing. The agency reports Canadian investors acquired $6.2 billion in foreign securities, much of them foreign equities.

Non-residents purchased $6.8 billion in Canadian securities in March, largely federal and provincial short-term debt instruments. Foreign investors have bought $23.3 billion worth of Canadian this year. Canadians bought $4 billion in foreign equities, mainly non-U.S. foreign stocks from various countries. StatsCan says the first quarter ended with the largest investment outflow in eight years, as major world equity markets posted gains during the month.

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