15th Dec 2009 12:30
December 15, 2009
Acron Announces Fertiliser Price Cap for Russian Farmers for H1 2010
The companies of the Acron Group have set a price cap for their mineral fertiliser sales to Russian farmers. Such price caps are a condition of the Cooperation Agreement signed between the Russian Fertiliser Producers Association and Russian Agro-Industrial Association aimed at meeting the demand of domestic farmers in the period 2008 - 2012.
In H1 2010, the price cap for NPK 16:16:16 will be RUB 10,200 per tonne, the same as in 2009. The price cap for ammonium nitrate and urea has increased to RUB 5,570 per tonne and RUB 8,470 per tonne, respectively. The prices are VAT exclusive for bulk cargo, FCA production facility.
For Further Information:
Acron
Ms. Elena Kochubey - Tel: +7 (495) 777 08 65
Head of Public Relations
Mr. Ilya Popov - Tel: + 7 (495) 411 55 94
Head of Investor Relations
Notes to editors
Acron is a leading Russian and global mineral fertiliser producer with a diversified product portfolio consisting of multi-nutrient fertilisers such as NPK and bulk blends, and straight nitrogen-based products such as urea, ammonium nitrate and UAN. In 2008, the Group's output of ammonia and mineral fertilisers (exclusive of own use) totaled 3.6 million tonnes. The Group's key markets are Russia, China and other Asian countries, Europe, Latin America, and FSU countries.
Acron employs over 13,000 people In 2008 the Group's consolidated revenues under IFRS were RUB 43,132 million (US$ 1,734 million), and net income was RUB 9,891 million (US$ 398 million). Acron's ordinary shares are listed and traded on the MICEX, RTS and LSE stock exchanges under the symbol "AKRN".
Acron has three production facilities - Acron (Veliky Novgorod, Russia), Dorogobuzh (Smolensk Region, Russia) and Hongri Acron (Shandong Province, China). Acron's logistics and transportation capabilities include its own fleet of railway cars and three sea port trans-shipment facilities on the Baltic Sea - at the Kaliningrad port of Russia, at the Estonian Sillamäe port and at the Estonian Muuga port. The Group operates distribution networks in Russia and China.
Acron plans to enhance its vertical integration and secure supplies of phosphate and potash inputs through the development of its own mineral resource base. The Group owns licences to develop two apatite-nepheline ore deposits in the Murmansk region and a potassium-magnesium salts deposit in the Perm region (both located in Russia).
Related Shares:
AKRN.L