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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.
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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
+7 495 232 9689 ext 2187
ir@phosagro.ru
Timur Belov, Press Officer
+7 495 232 9689
EM
Sam VanDerlip
vanderlip@em-comms.com
+44 7554 993 032
+7 499 918 3134
Dmitriy Zhadan
zhadan@em-comms.com
+7 916 770-89-09
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)
