Russia potash producers Uralkali, Silvinit complete merger

16 June 2011 17:36  [Source: ICIS news]

MOSCOW (ICIS)--Russia's major potash producers Uralkali and Silvinit have finalised their merger, Uralkali said on Thursday.

The transaction, which is expected to create the world's leading potash producer, was previously due to be completed in May.

Uralkali and Silvinit shareholders first indicated plans to merge in December 2010. The Russian Federal Anti-Monoply Service (FAS) approved the merger but this was conditional on the new entity accepting direct government regulation of domestic potash prices.

Uralkali and Silvinit are based at Berezniki in the Perm region of the Urals. In 2010, Uralkali produced 5.1m tonnes of potash while Silvinit's potash production amounted to 5.2m tonnes.

In a statement released on 1 April, Uralkali’s CEO said the merger and proposed expansion initiatives between Uralkali and Silvinit would boost the company’s production capacity to 13m tonnes by 2012.

The increased capacity has the potential to rival that of Belarusian Potash Co and Canada-based PotashCorp.

Russia and Belarus hold 30% of global potash production capacity.

For more on potash visit ICIS pricing fertilizers


By: Sergei Blagov
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index