Moscow-Uralkali announced that as the result of a hearing held April 13 by the Arbitration Court of Appeals, the injunction imposed by the Perm Territory Arbitration Court Feb. 25, 2011, halting the advance of the Uralkali/Silvinit merger has been lifted. “Lifting the injunction as well as the recent approval by the Russian Antimonopoly Service of the proposed combination of Uralkali and Silvinit will allow us to complete the merger, pursuant to the previously announced timetable and in accordance with the terms announced and subsequently supported by the overwhelming majority shareholders of both companies,” said Vladislav Baumgertner, Uralkali CEO. In other news, both companies announced their production results for the three months ended March 31, 2011. Over that period Uralkali shipped 1.265 million mt of potassium chloride (KCl), which is 2 percent higher than in Q1-2010. Silvinit shipped approximately 1.34 million mt of KCl in the first quarter, an increase of 16 percent on the corresponding quarter in 2010. “The first three months of this year have seen both Uralkali and Silvinit reach pre-crisis production levels,” said Baumgertner. “This was achieved through extensive maintenance work that the two companies carried out at their production units. In addition, in Q1-2011 Silvinit completed a project converting Shaft 3 of SKRU-3 from the extraction of sodium chloride to sylvinite ore.
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