A unit of Koch Industries is changing its name, restructuring itself and making leadership changes.
Koch Fertilizer said in a news release Thursday that it will change its name to Koch Ag and Energy Solutions and become a holding company.
It will become the holding company for Koch Fertilizer, Koch Energy Services and Koch Methanol. They are business units that represent offshoots of the original fertilizer business.
“Since acquiring Farmland’s fertilizer plants and terminals in 2003, we’ve grown and globalized this business and expanded beyond fertilizer,” Steve Packebush said in the release. Packebush will be president of Koch Ag and Energy when the name change and restructuring take effect early next year. “The name change and reorganization will better position us to continue to innovate and pursue even more strategic growth opportunities within the agriculture and energy sectors,” he said.
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Packebush has been president of Koch Fertilizer since 2003 and has worked at a number of Koch businesses since 1987.
As part of the changes, Chase Koch, son of Koch Industries chairman and CEO Charles Koch, will become president of Koch Fertilizer. Kurt Kolbeck will become president of Koch Energy Services.
Koch Fertilizer, a global producer and marketer of fertilizer products, recently announced a proposed expansion of its ammonia production and construction of a new urea plant in Enid, Okla.
And in October, Koch Energy announced an agreement with affiliates of Energy Capital Partners to acquire a natural gas combined cycle electric power plant in Odessa, Texas.