2 July 2012
Joint Press Release
EuroChem Completes Acquisition of K+S Nitrogen
Moscow, Russia, and Kassel, Germany, July 2, 2012 – EuroChem and K+S today announced the successful completion of the acquisition of K+S Nitrogen by EuroChem. The sale of K+S' nitrogen fertiliser distribution business to EuroChem was approved by the EU antitrust authority on June 25, 2012.
“The acquisition of K+S Nitrogen is the latest step in our strategy to expand EuroChem’s geographic footprint and move closer to our end-users, while further bolstering our product offering,” commented Valery Rogalskiy, EuroChem sales Director.
The strategy of the K+S Group provides for growth in the Potash and Magnesium Products and the Salt business segments and for focusing management resources and financial means on this accordingly. Against this background, K+S had sold the business activities of COMPO to the investment company Triton last year and announced the sale of K+S Nitrogen to EuroChem on May 8, 2012.
About K+S Nitrogen
K+S Nitrogen markets nitrogenous fertilizers with a focus on major customers in agriculture and special crops such as fruits, vegetables and grapes. In addition to the fertilizers produced by EuroChem Antwerpen and delivered by BASF, K+S Nitrogen also markets the goods of other reputable European fertilizer producers. The company is based in Mannheim, Germany, and employs about 180 people worldwide. More information is available at www.ks-nitrogen.com.
EuroChem is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and natural gas extraction to production, logistics, and distribution. EuroChem is currently developing the Gremyachinskoe and Verkhnekamskoe greenfield potash projects in Russia, with planned capacities of 4.6 and 3.4 million tpy respectively. Please visit www.eurochem.ru for further information.
The K+S Group is one of the world's leading suppliers of standard and speciality fertilizers. In the salt business, K+S is the world’s leading producer with sites in Europe as well as North and South America. K+S offers a comprehensive range of goods and services for agriculture, industry, and private consumers, which provides growth opportunities in virtually every sphere of daily life. The K+S Group employs more than 14,000 people. The K+S share – the commodities stock on the German DAX index – is listed on all German stock exchanges (ISIN: DE000KSAG888, symbol: SDF). More information about K+S can be found at www.k-plus-s.com.
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