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Cronus Fertilizers Executes EPC Contract with thyssenkrupp Industrial Solutions for Illinois Fertilizer Project

October 1, 2018

CHICAGO--(BUSINESS WIRE)--Oct 1, 2018--Cronus Fertilizers has executed a lump-sum turnkey contract with thyssenkrupp Industrial Solutions (TKIS) for the engineering, procurement and construction (EPC) of its Tuscola, Illinois, fertilizer plant. The contract is a critical step forward for the project and will provide Cronus with a highly experienced partner for the project’s execution.

Cronus’ contract with TKIS, one of the world’s leading fertilizer plant technology and construction companies, is the result of an extensive review process between the two companies that began in 2017. The Cronus team is continuing work on the project and the facility is on track for groundbreaking in the 2nd quarter of 2019.

“We are proud to reach this important milestone in realizing our vision for a state-of-the-art fertilizer facility that will provide major benefits for the entire region,” said Erzin Atac, CEO of Cronus Chemicals. “We look forward to continuing our partnership with TKIS and community leaders as the project moves toward construction.”

“I am thrilled with the continuing progress of the Cronus project. Bringing thyssenkrupp Industrial Solutions to the table as their EPC contractor is a significant step forward in this process,” said State Senator Chapin Rose (R-Mahomet). “thyssenkrupp has considerable expertise both in the U.S., and internationally, in large-scale construction - especially for this type of facility. I realize there are still steps to cover before this project is completed, but, certainly, a company of the character, competency, and integrity of thyssenkrupp signing on to the Cronus project is welcome news for Central Illinois.”

With the capacity to produce 2,300 metric tons of ammonia per day, the Cronus plant will be a major new source of fertilizer for farmers throughout Illinois and the Midwest. The plant’s strategic location will allow area farmers to access locally produced ammonia that will primarily replace the need for imported products.

“thyssenkrupp Industrial Solutions is honored Cronus Chemicals has selected us as the designated EPC Contractor for their planned 2,300 tons per day ammonia plant project in Illinois,” said Dennis Lippmann, CEO thyssenkrupp Industrial Solutions, North America. “We look forward to continuing our partnership and supporting Cronus during the next phase of this exciting project. Our successful track record in ammonia plant technology and undisputed expertise in engineering, procurement and construction qualifies us for this large-scale project, which will move forward once the financing is completed.”

In addition to providing a major new source of fertilizer for farmers in the region, the project is expected to provide a significant boost to the economy in the form of construction jobs, long-term positions and spending activity.

About Cronus Fertilizers

Cronus Fertilizers is a project of Cronus Chemicals, LLC. Cronus Fertilizers works to provide high-quality, locally produced fertilizers for Midwestern farmers, while reducing reliance on imported nitrogen products. Cronus Chemicals, LLC was formed by a highly accomplished team of executives with decades of experience in the development, manufacturing and marketing of fertilizer products. .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181001005644/en/

CONTACT: Aileron Communications

Peter Gray, 312-629-9400

pgray@aileroninc.com

or

thyssenkrupp communications

Jonathan Evans, 312-525-2792

jonathan.evans@thyssenkrupp.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES AGRICULTURE OTHER NATURAL RESOURCES

SOURCE: Cronus Fertilizers

Copyright Business Wire 2018.

PUB: 10/01/2018 10:31 AM/DISC: 10/01/2018 10:31 AM

http://www.businesswire.com/news/home/20181001005644/en

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