Moscow-Russian fertilizer producer Uralchem OJSC on July 26 announced that it had launched a reorganization of the Uralchem Group of companies as part of the transfer to a single stock. On July 23, the board of directors of Uralchem OJSC resolved to convene an extraordinary general meeting of the company’s shareholders and recommend that the shareholders resolve to reorganize the company by merging Azot OJSC and Uralchem Management Co. In order to resolve a merger with Uralchem OJSC, the companies that take part in the merger will hold extraordinary general meetings of shareholders in the beginning of September 2010. “The proposed merger will allow us to improve financial flows management in the Group and significantly decrease administrative and management costs,” said Dmitry Osipov, CEO of Uralchem OJSC. “In addition, reorganization will make the Group more attractive as an investment.” Uralchem said it plans to merge other companies within the group in the future. Uralchem is one of the largest companies in the nitrogen and phosphate fertilizer markets in Russia and the CIS, with annual production capacities of more than 2.5 million mt of ammonium nitrate, 2.2 million mt of ammonia, 0.8 million mt of MAP and DAP, 0.8 million mt of compound fertilizers, and 0.5 million mt of urea. Uralchem is the second largest ammonium nitrate producer in the world and number one in Russia. The company’s key production assets include Kirovo-Chepetsk Chemical Works OJSC in Kirovo-Chepetsk, Kirov region; Azot OJSC in Berezniki, Perm region; and Voskresensk Mineral Fertilizers OJSC in Voskresensk, Moscow region.
Transparency Across the Fertilizer Value-Chain