In August, URALCHEM's fleet of rolling stock increased by 100 new ammonia tanks.
Moscow, Russia (August 14, 2014) -- In August, URALCHEM's fleet of rolling stock increased by 100 new ammonia tanks. A financial leasing contract was signed by URALCHEM-TRANS (part of URALCHEM) and Alpha Leasing. The deal amounted to about 500 million roubles.
The leasing company was chosen on a competitive basis, which allowed URALCHEM to negotiate the best terms for the deal. The new tanks are to be manufactured by the Ruzaevsky Chemical Engineering factory (Ruzhimmash, part of the RM Rail group). URALCHEM-TRANS has long been using Ruzhimmash products. Currently, the company's fleet includes 533 leased tanks by this manufacturer and another 76 rented.
Expansion of its fleet of ammonia tanks is in line with URALCHEM's strategy to ensure the independence of its logistics chain. In particular, it is driven by the requirement to reduce its current dependence on leased fleets of other ammonia manufacturers. This allows the company to guarantee uninterrupted supply of raw materials and finished products. By following this strategy in 2012 to 2014, URALCHEM increased the proportion of its own ammonia tanks from 40% to 71% of the total number of tanks in its fleet. In total, URALCHEM's rolling stock of ammonia tanks consists of 1700 ammonia tanks, of which more than 1200 are owned by the company.
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URALCHEM, OJSC is one of the largest producers of nitrogen and phosphate fertilizers in Russia and the CIS with production capacities of over 2.8 million tonnes of ammonia, 2.5 million tonnes of ammonium nitrate, 1.2 million tonnes of urea and 0.8 million tonnes of phosphate and compound fertilizers per year. URALCHEM, OJSC ranks first in Russia for production of ammonia and ammonium nitrate, and second for the production of urea. Key production assets of URALCHEM, OJSC include Azot Branch of URALCHEM, OJSC in Berezniki, Perm Region; OJSC Minudobrenia, Perm; 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.