PhosAgro Completes Reorganisation of Production and Logistics Assets

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OJSC PhosAgro (PHOR) 
PhosAgro Completes Reorganisation of Production and Logistics Assets 
 
01-Apr-2019 / 18:30 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer / publisher is solely responsible for the content of this 
announcement. 
 
For Immediate Release   1 April 2019 
 
    PhosAgro Completes Reorganisation of Production and Logistics Assets 
 
  Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading 
   vertically integrated phosphate-based fertilizer producers, has concluded 
its reorganisation of JSC Apatit (Cherepovets) by incorporating JSC Metachem 
                          (Volkhov) and JSC PhosAgro-TRANS (in Cherepovets). 
 
       PhosAgro CEO Andrei Guryev said: "PhosAgro's merger of production and 
         logistics assets into one legal entity has now been concluded. I am 
        confident that these organisational changes will further improve the 
                      Company's efficiency and business process management." 
 
    From 1 April 2019, all employees of JSC Metachem were transferred to the 
    Volkhov branch of JSC Apatit. The staff of JSC PhosAgro-Trans joined the 
  logistics department at JSC Apatit. All social obligations are implemented 
   in full accordance with the previously approved programmes and collective 
bargaining agreements. There will be no significant changes in the structure 
                          of tax payments to regional and municipal budgets. 
 
              JSC Metachem (from 01.04.2019 the Volkov branch of JSC Apatit) 
 
The enterprise is situated in the city of Volkhov (Leningrad region). It was 
    established in December 2003 after the division of the Volkhov aluminium 
  plant into chemical and metallurgical production units. In 2012, it became 
          part of PhosAgro. More than RUB 5 billion has been invested in the 
   development of the enterprise and its product portfolio has significantly 
increased. The enterprise is the only producer of sodium tripolyphosphate in 
Russia and offers a wide range of mineral fertilizers. Thanks to investments 
          from PhosAgro, the enterprise's environmental safety has improved. 
 
     In 2019, an investment programme to develop the enterprise's production 
  capacities was launched. The total investments will exceed RUB 23 billion, 
                             with the programme due to be completed by 2023. 
 
      JSC PhosAgro-Trans (from 01.04.2019 all functions are performed by the 
                                        logistics department of JSC Apatit) 
 
      Freight-forwarding company JSC PhosAgro-Trans was founded in 2002. Its 
       purpose was to organise rail transportation for PhosAgro enterprises, 
    freight forwarding and cargo transhipment in the ports of St Petersburg, 
  Murmansk, Novorossiysk, Kaliningrad and Tallinn. The company has more than 
6,000 hopper cars, gondolas, boxcars and tank cars. PhosAgro-Trans initiated 
                   a major project to construct next-generation hopper cars. 
 
For further information please contact: 
 
PJSC PhosAgro 
Alexander Seleznev, Head of Investor Relations Department 
[phone] ext 2187 
[e-mail] 
 
Timur Belov, Press Officer 
[phone] 
 
EM 
Sam VanDerlip 
[e-mail] 
[phone] 
[phone] 
 
Dmitriy Zhadan 
 
[e-mail] 
 
                                        [phone] 
 
                                        About the Company 
 
PhosAgro is one of the world's leading vertically integrated phosphate-based 
      fertilizer producers in terms of production volumes of phosphate-based 
    fertilizers and high-grade phosphate rock with a P2O5 content of 39% and 
                                        higher. 
 
The Company is the largest phosphate-based fertilizer producer in Europe (by 
    total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of 
  high-grade phosphate rock with a P2O5 content of 39%, a top-three producer 
  of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) 
   in Europe, and the only producer in Russia, and Russia's only producer of 
                              nepheline concentrate (according to the RAFP). 
 
  PhosAgro's main products include phosphate rock, 39 grades of fertilizers, 
    feed phosphates, ammonia, and sodium tripolyphosphate, which are used by 
customers in 100 countries spanning all of the world's inhabited continents. 
      The Company's priority markets outside of Russia and the CIS are Latin 
                                        America, Europe and Asia. 
 
  PhosAgro's shares are traded on the Moscow Exchange, and Global Depositary 
    Receipts (GDRs) for shares trade on the London Stock Exchange (under the 
   ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in 
                          the MSCI Russia and MSCI Emerging Markets indexes. 
 
More information about PhosAgro can be found on the website: www.phosagro.ru 
                                        [1]. 
 
ISIN:          US71922G2093 
Category Code: MSCU 
TIDM:          PHOR 
LEI Code:      635400F8A3KGJIIBIK95 
Sequence No.:  8027 
EQS News ID:   794371 
 
End of Announcement EQS News Service 
 
 
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(END) Dow Jones Newswires

April 01, 2019 12:30 ET (16:30 GMT)