Uralkali

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OJSC Uralkali
Type Public
Traded as MCXURKA
LSEURKA
Industry Chemical
Founded 1930
Headquarters Berezniki, Perm Krai, Russia
Key people Alexander Voloshin (Chairman)
Dmitry Osipov (CEO)
Products Potash fertilizers
Revenue Increase US$3.9 billion (2012) [1]
Profit Increase US$1.6 billion (2012)
Employees 7,200
Website www.uralkali.com
Central office in Berezniki

Uralkali is a Russian potash fertilizer producer and exporter. It is traded on the London Stock Exchange and Moscow Exchange using the symbol, URKA.[2] The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russian Federation). Uralkali employs ca.11,300 people (in the main production unit).[3]

Recent news[edit]

In December 2010, Uralkali announced plans to buy Silvinit; together they would form one of the world's largest potash producers.[4] The merger was finalized in July 2011.

In November 9, 2012, Chengdong Investment Corp., a unit of the sovereign wealth fund China Investment Corporation, bought bonds from the shareholders with maturation in 2014 which were exchangeable into a stake in Uralkali. China Investment Corporation would be able to convert its investment into a 12.5 percent stake in Uralkali’s ordinary shares.[5]

On 30 July Uralkali announced that it was pulling out of the Belarus Potash Corporation export cartel and said it would sell the fertilizer at lower prices. This move sent shares of potash companies tumbling on speculation that potash prices would plunge.[6]

This dispute arose over foreign sales and top executives at Uralkali were accused of a criminal scheme. On 26 August Belarus detained the company's then-CEO Vladislav Baumgertner after inviting him to Minsk for talks.[7] In September he was moved from solitary confinement and put under house arrest.[8] Uralkali insists that persecution of its employees by Belarusian officials is politically motivated.[9] On 14 October Russia opened a criminal investigation into Vladislav Baumgertner as well, and investigators announced they will request his extradition from Belarus.[10] On 21 October Moscow's Basmanny Court has placed Vladislav Baumgertner under arrest in absentia in Russia.[11]

In September 2013, the China Investment Fund acquired a 12.5% stake in the firm, rumoured to be worth around $2 billion.[12]


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