22.04.2013 

Ad hoc notification in accordance with Section 15 of the German Securities Trading Act (WpHG)

K+S increases capital expenditures for new potash plant in Canada

  • Basic engineering of the Legacy Project further advanced
  • Supervisory Board agrees to the decision of the Board of Executive Directors for raising the capex budget to 4.1 billion CAD
  • Production capacity of 2 million tonnes will be available as planned by 2017
  • Commissioning expected in summer of 2016 (so far end of 2015)
  • Financing of the still economically attractive and strategically important potash project secured

The Supervisory Board today has approved the decision of the Board ofExecutive Directors to increase the capex budget for the new plant to 4.1billion CAD (approx. 3 billion EUR). The so far assessed 3.25 billion CAD were based on the feasibility study conducted in November 2011.

Taking all data of the profitability calculation into account the projectis economically attractive and still fulfills the requirement of the Group,to earn a 15% premium on the cost of capital before taxes. The Financingwill be ensured by existing liquidity, future cash flows and new debt.

With the expected commissioning in summer 2016 the company still projectsto reach the two-million-tonnes-mark of production capacity at the newlocation at the end of 2017. The gradual extension of the annual capacityto 2.86 million tonnes of potash products will occur afterwards. So far thecompany assumed a production start at the end of 2015.

K+S Aktiengesellschaft
Kassel, 22 April 2013
The Board of Executive Directors 

End of the ad hoc disclosure

 

Thorsten Boeckers

Board of Executive Directors

Thorsten Boeckers
Board of Executive Directors

Bertha-von-Suttner Str. 7
34131 Kassel
Germany

Download vCard

Address

back

Michael Wudonig

Spokesman

Phone: +49 561 9301 1262
michael.wudonig@k-plus-s.com

Michael Wudonig
Spokesman

Bertha-von-Suttner Str. 7
34131 Kassel
Germany

Phone: +49 561 9301 1262
Fax: +49 561 9301 1666
michael.wudonig@k-plus-s.com

Download vCard

Address

back

 

Print version  |  Return to Top
Follow us  LinkedInGlassdoorkununuXINGYouTubeInstagram