Moscow, Russia - February 03, 2012 -- URALCHEM OJSC announces operating results for the year 2011. The production volume of URALCHEM holding enterprises during 2011 increased by 5% compared to 2010, amounting to a total of 5,093 million tonnes. The production of ammonium nitrate increased by 6%. Due to market conditions, the production of DAP was reduced in favour of increasing the production of more marketable MAP, the output of which increased by 31%. The production of other types of fertilisers grew by 82% due to the increase of sales of new fertiliser products and the start of their export sales. The production of other chemicals grew by 22% due to the increase in domestic sales of sulphuric and nitric acid, as well as the increase in sales of the products by the nitrite-nitrate salt division at the Azot Branch.
Dmitry Konyaev, CEO of URALCHEM, OJSC commented on the operating results for the year 2011: “In 2011, the production volume of URALCHEM enterprises exceeded 5 million tonnes for the first time. With the purchase of OJSC Minudobrenia in Perm the company will strengthen its position in the nitrogen market and will become the second largest producer of urea in Russia.”
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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, 2.8 million tonnes of ammonia, 0.8 million tonnes of MAP and DAP, 0.8 million tonnes of complex fertilisers and 1.2 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; 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.