Ending a year of speculation, Cominco Fertilizers Ltd. said Thursday that it will launch a retail chain in Argentina - its first outside North America.
The company’s board of directors agreed to spend $10 million to build and operate five retail stores in the South American nation. The outlets will open before the end of the year.
Calgary-based Cominco said last year that it was studying business opportunities in Argentina, including a possible nitrogen fertilizer factory. A decision on the factory is expected in the third quarter of 1995, a company statement said.
Cominco last month reported a record $55.17 million profit in 1994 on sales of $678.5 million. The company operates a Western regional office in downtown Spokane and owns Western Farm Service, a Northwest farm supply chain.