OJSC PhosAgro (PHOR)
Alexander Gilgenberg Appointed General Director of Apatit
08-Nov-2019 / 15:00 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer / publisher is solely responsible for the content of this
announcement.
For Immediate Release 8 November 2019
Alexander Gilgenberg Appointed General Director of Apatit
Cherepovets (Vologda region) - Alexander Gilgenberg has been appointed as
General Director of Apatit. Alexander has worked at PhosAgro enterprises
since 1999. Prior to today's appointment, he held the position of First
Deputy General Director of Apatit.
Vladimir Davydenko, who previously headed Apatit, will now oversee the
technical development of PhosAgro enterprises.
PhosAgro CEO Andrey Guryev said: "These changes in the management structure
of our production assets will enable the Company to take on the challenges
we face at the current stage of our development. PhosAgro's
recently-announced Strategy to 2025 calls for a large-scale investment
programme of USD 3 billion. This requires direct personal control over
investment activities, which will be carried out by Vladimir Davydenko with
his enormous professional experience in this area. As First Deputy General
Director of Apatit for technical development, he will focus on the
construction and modernisation of production facilities using best available
techniques."
By 2025, PhosAgro plans to increase its production of fertilizers and feed
phosphates to 11.7 million tonnes, which is 25% higher compared to 2018. The
strategy also calls for the range of fertilizer grades produced by the
Company to expand from 39 in 2018 to 50, including new high-performance
brands with bio-additives.
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. PhosAgro's pure phosphate-based fertilizers stand out for their high
efficiency and their environmental safety for the health of people and
soils.
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.
ISIN: US71922G2093
Category Code: BOA
TIDM: PHOR
LEI Code: 635400F8A3KGJIIBIK95
OAM Categories: 2.2. Inside information
Sequence No.: 28186
EQS News ID: 908683
End of Announcement EQS News Service
(END) Dow Jones Newswires
November 08, 2019 09:00 ET (14:00 GMT)
