OJSC PhosAgro (PHOR) PhosAgro to Merge Metachem and PhosAgro-Trans with Apatit 24-Dec-2018 / 17:00 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer / publisher is solely responsible for the content of this announcement.
PhosAgro to Merge Metachem and PhosAgro-Trans with Apatit
Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, has made a decision to reorganise JSC Apatit by merging JSC Metachem and JSC PhosAgro-Trans into Apatit.
PhosAgro CEO Andrey Guryev said: "This reorganisation aims to further improve management and operational efficiency, strengthening PhosAgro's competitive advantages as a vertically integrated company. With the merger of JSC Metachem and JSC PhosAgro-Trans into JSC Apatit, PhosAgro will complete the transfer of its production assets into one legal entity."
The merger is scheduled to be completed on 1 April 2019. No redundancies for operating staff are planned in connection with this merger; all social obligations will be fulfilled as before. The structure of tax payments to regional and municipal budgets will also not undergo significant changes.
For further information please contact: PhosAgro Alexander Seleznev, Head of Investor Relations Department +7 495 232 9689 ext 2187 firstname.lastname@example.org Timur Belov, Press Officer +7 495 232 9689 EM Sam VanDerlip email@example.com +44 7554 993 032 +7 499 918 3134 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.
|OAM Categories:||3.1. Additional regulated information required to be disclosed under the laws of a Member State|
|EQS News ID:||761917|
|End of Announcement||EQS News Service|