Russian fertilizer group Uralchem JSC reported that its phosphate fertilizer production subsidiary, Voskresensk Mineral Fertilisers JSC, has completed a reorganization process and was merged into Uralchem JSC as a branch effective from March 1, 2023.
The new branch assumed all property of the former subsidiary and is now called the VMF branch of Uralchem.
The company said the reorganization aims to increase Uralchem Group’s operating efficiency by reducing the number of intragroup transactions, considerably cut administrative and management expenses, and improve financial flow management.