Uralkali

From Wikipedia, the free encyclopedia
OJSC Uralkali
Type Public
Traded as MCX: URKA
LSE: URKA
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 company. It is traded on the London Stock Exchange using the symbol, URKA.[2] and its largest shareholder is billionaire Suleyman Kerimov. The company is based in Berezniki, Perm Krai, Russian Federation.

Recent news

In December 2010, Uralkali announced plans to buy Silvinit; together they would form one of the world's largest potash producers.[3] 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.[4]

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.[5]

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.[6] In September he was moved from solitary confinement and put under house arrest.[7] Uralkali insists that persecution of its employees by Belarusian officials is politically motivated.[8] On 14 October Russia opened a criminal investigation into Vladislav Baumgertner as well, and investigators announced they will request his extradition from Belarus.[9] On 21 October Moscow's Basmanny Court has placed Vladislav Baumgertner under arrest in absentia in Russia.[10]

In September 2013, the China Investment Fund acquired a 12.5% stake in the firm, rumoured to be worth around $2 billion.[11]


References

  1. ↑ Consolidated financial statements and auditor's report for the year ended 31 December 2011
  2. ↑ URKA Stock Quote - Uralkali Stock Quote - URKA Quote - URKA Stock Price
  3. ↑ "Mining Journal - Russian merger to create US$24bn potash producer". Retrieved 2010-12-21. 
  4. ↑ China Fund, VTB Capital Invest in Kerimov’s Uralkali, Bloomberg (November 9, 2012)
  5. ↑ Bloomberg, Uralkali Breaks Potash Accord to Grab Market Share, 30 June 2013
  6. ↑ Bloomberg, Potash Dispute Escalates as Uralkali CEO Held in Belarus, 26 August 2013
  7. ↑ Russia Today, Uralkali CEO now under house arrest, employees and mother demand release, 26 September 2013
  8. ↑ Russia beyond the headlines, Uralkali asks Russian authorities for protection, 5 September 2013
  9. ↑ Reuters, Russia opens case against Uralkali CEO, seeks extradition, 14 October 2013
  10. ↑ Interfax, Uralkali CEO Baumgertner placed under arrest in absentia in Russia, 21 October 2013
  11. ↑ Polina Devitt (24 September 2013). "China gets 12.5 percent stake in Russia's Uralkali". PUBLISHER. 

External links

Wikimedia Commons has media related to Uralkali.
Russia MSCI Russia companies of Russia (July 30, 2013)
This article is issued from Wikipedia. The text is available under the Creative Commons Attribution/Share Alike; additional terms may apply for the media files.