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October 30, 2008
Financial crisis triggers slacker demand in the agricultural sector:
K+S curtails potash production until the end of 2008
As a result of the financial crisis, the strong decline in cereal prices is leading to uncertainty in the agricultural sector about the future earnings situation. K+S is responding to the resulting lower volume of orders from the agricultural sector, especially in Europe, by curtailing the production of potash fertilizers during the fourth quarter. In Total about 400 thousand tonnes of potassium chloride less will be produced at all German potash sites. The production of specialty and industrial products will be maintained. Against this backdrop, operating earnings (EBIT I) of the K+S Group are expected to be rather at the lower end of the range, i.e. approx. € 1.4 billion for the fiscal year 2008.
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