Moscow, Russia - November 14, 2011 -- The production volume of URALCHEM Holding’s enterprises during the first nine months of 2011 increased by 6% compared to the same period in 2010, amounting to a total of 3.815 million tonnes. The production of ammonium nitrate increased by 7%. Due to market conditions, the production of DAP and NPS 14:34:8 has been reduced to zero in favor of increasing the production of more marketable MAP and NPK fertilisers. Their output increased by 63% and 18% respectively. The production of other types of fertilisers grew by 107% due to the increase of sales of potassium nitrate and the start of its export sales. The production of chemicals for industrial use grew by 28% due to the increase in domestic sales of sulphuric and nitric acid, aluminum fluoride and phosphogypsum.
Dmitry Konyaev, CEO of URALCHEM, OJSC commented on the operating results for the first nine months of 2011: "We are focused on ensuring flexibility of production. Along with manufacturing of standard types of nitrogen and phosphate fertilisers, we are developing niche products and maintaining an efficient production balance that is focused on current demand."
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URALCHEM, OJSC is one of the largest producers of nitrogen and phosphate fertilisers in Russia and the CIS with production capacities of over 2.5 million tonnes of ammonium nitrate, 2.2 million tonnes of ammonia, 0.8 million tonnes of MAP and DAP, 0.8 million tonnes of complex fertilisers and 0.5 million tonnes of urea. URALCHEM, OJSC is the second largest ammonium nitrate producer in the world and number one in Russia, the second largest producer of nitrogen fertilisers in Russia. Key production assets of URALCHEM, OJSC include Azot Branch of URALCHEM, OJSC in Berezniki, Perm Region; MFP Kirovo-Chepetsk Chemical Works, OJSC Branch in Kirovo-Chepetsk, Kirov region; Voskresensk Mineral Fertilisers, OJSC in Voskresensk, Moscow region.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of URALCHEM. We wish to caution you that these statements are only predictions. We do not intend to update these statements and our actual results may differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, financial risk management and the impact of general business and global economic conditions.