9th Feb 2009 15:04
February 9, 2009
Sberbank of Russia Extends Loan to Acron
Acron and Sberbank of Russia have entered into a three-year USD 128 million loan agreement secured by Acron's stake in Silvinit.
Acron will use the funds to finance its operations and refinance its short-term debt.
For Further Information:
Acron
Elena Kochubey - Tel: +7 (495) 777 08 65
Corporate Communications
Ilya Popov - Tel: + 7 (495) 411 55 94
Chief Expert
Information and Research Department
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 fast growing developing markets of South Asia, Latin America and former Soviet Union.
Acron employs over 12,000 people in Russia and China. In 2007 the Group's consolidated revenues under IFRS were RUB 31,105 million (US$ 1,267 million), and net income was RUB 5,668 million (US$ 231 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 Tallinn 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