Dmitry Osipov, Chief Executive Officer of URALCHEM, OJSC, commented on the operating results of for the first half of 2010: “All of URALCHEM’s plants are presently running at full utilization rates".
The Board of Directors of URALCHEM, OJSC recommended that the general shareholders’ meeting resolve to reorganize the Company by merging Azot, OJSC and URALCHEM Management Company.
This being the second year of URALCHEM’s presence at Cereals, the company updated the customers on its improved product line for the British and Irish markets.
Revenue increased to US$ 325 million from US$ 235 million in 1Q 2009; operating profit increased to US$ 39 million from US$ 7 million in 1Q 2009; adjusted EBITDA increased to US$ 66 million from US$ 48 million in 1Q 2009; net income amounted to US$ 19 million compared to a net loss of US$ 118 million in the first quarter of 2009
Nikolay Leonov, Head of Eco-Team at Uralchem Management, LLC, one of the Group companies said: “Uralchem, OJSC is aware of its social responsibility for maintaining healthy environmental conditions in the regions where the company’s plants operate.
Dmirty Osipov, Chief Executive Officer of Uralchem, OJSC, said: “High prices for the products of agriculture at the international market stimulated commercial agriculture in Russia, including a number of bio-fuel crop projects. In the longer term we expect growing demand for the products of agriculture with mineral fertilizer supplies to be the key condition of the growth”.
The Company’s management and its shareholder believe that in the current market conditions the Offering cannot be priced at a level which reflects a fair value of the Company.
KCCW MFP, CJSC won the award in the category “Ecologically Responsible Business” in the All-Russian contest “Best Companies of Russia: Dynamics, Efficiency, Responsibility – 2009”
URALCHEM OJSC, today announced that it has successfully completed agronomic efficiency trials of calcium-ammonium-nitrate (CAN) and calcium-nitrogen-sulfate (CNS) products developed by the Company.
Evgeny Bogach, chief engineer of VMF, commented: “Due to the decision made by the High Court of Arbitration of the Russian Federation, we were able to resume production earlier than we expected. The plant’s employees returned to working full shifts on December 30, 2009.