Russia: Uralchem increases ownership in Perm

Russian fertilizer maker Uralchem acquired in the beginning of the year an additional 41.2% of the shares of Perm Mineral Fertilizers (PMF) reaching a controlling interest of 87.7%. Uralchem is one of the largest producers of nitrogen and phosphate fertilizers in Russia. They are the second largest ammonium nitrate producer in the world and number one in Russia and the second largest nitrogen fertilizer producer in Russia.

Uralchem has capacities for the production of 2.8 million tonnes of ammonium nitrate, 2.2 million tonnes of ammonia, 0.8 million tonnes of complex fertilizers (NPK), 0.8 million tonnes of MAP and DAP and 1.2 million tonnes of urea per year. The company, which owns fertilizer plants at Kirovo-Chepetsk, Berezniki and Voskresensk, produced in 2010 10% more fertilizers compared to the previous year reaching nearly 4.9 million tonnes. In the 2011 Uralchem accounted for more than 16% of all Russian nitrogen fertilizers.

Uralchem was incorporated in Cyprus in May 2006. As at 31 March 2012 it was 95.5% owned by CI-Chemical Invest Limited, incorporated in Cyprus; the remaining shares were held by management. OAO Perm Mineral Fertilizers specializes in ammonia and urea manufacturing and the main products are primarily sold in the export markets. UralChem said first-quarter profit doubled as its acquisition of PMF boosted output. In the 1Q of 2012 they sold 204,000 tonnes ammonia as compared to 115,000 tonnes ammonia in the 1Q in 2011.

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