Uralkali, Moscow, has bought a plant to produce compound fertilizer from Alfa Bank in Russia’s Kaliningrad Region, according an Interfax report this week.
The purchase of Geo NPK LLC, owners of the Arvi NPK plant in Chernyakhovsk, was made through the Silivint and Silivint Transport subsidiaries of the potash company and completed on Dec. 31, 2020, according to the report.
The Arvi NPK plant had become the property of Alfa Bank in 2019 as part of bankruptcy proceedings following unrecovered debt from the owner of the plant, Lithuanian entrepreneur Vidmantas Kucinskas.
The plant has production capacity of 240,000 mt/y of granular compound fertilizer, and started up in 2008. Prior to the start of bankruptcy proceedings, the operation in 2015 had revenue of RUB2.6 billion, profit from sales of RUB62 million, and made a net loss of RUB259 million, according to the report.
Uralkali has yet to confirm or comment on the acquisition.