Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has made a decision to reorganise JSC Apatit by merging JSC Metachem and JSC PhosAgro-Trans into Apatit.
PhosAgro CEO Andrey Guryev said: “This reorganisation aims to further improve management and operational efficiency, strengthening PhosAgro’s competitive advantages as a vertically integrated company. With the merger of JSC Metachem and JSC PhosAgro-Trans into JSC Apatit, PhosAgro will complete the transfer of its production assets into one legal entity.”
The merger is scheduled to be completed on 1 April 2019. No redundancies for operating staff are planned in connection with this merger; all social obligations will be fulfilled as before. The structure of tax payments to regional and municipal budgets will also not undergo significant changes.