Zug, Switzerland, 2 March 2017 – EuroChem Group AG (“EuroChem” or the “Group”), a leading global fertilizer company, today announces the acquisition of a hundred percent interest in Agricola Bulgaria, Bulgaria’s leading fertilizer distribution company. It will be renamed EuroChem Agro Bulgaria. The deal has already been approved by Bulgaria’s competition regulator.
Agricola Bulgaria, based in Pleven, Northern Bulgaria, was previously owned by Agrium Europe, and has annual fertilizer sales of approximately 70,000-80,000 tonnes, 9% of the Bulgarian fertilizer distribution market. The acquisition will help to further develop EuroChem’s distribution footprint in Bulgaria and the wider region of Eastern Europe.
Dmitry Strezhnev, EuroChem’s CEO, commented: “The acquisition of Agricola Bulgaria, a well-established player in the Bulgarian fertilizer distribution market, is in line with our expansion strategy in Eastern Europe where we see strong demand for fertilizers. This acquisition will contribute to the Group’s growth in Bulgaria and its neighbouring countries while providing local farmers with better access to EuroChem’s high quality fertilizer products and agricultural solutions.”
About EuroChem Group AG
EuroChem is a leading global fertilizer company producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production facilities in Belgium, China, Kazakhstan, Lithuania, and Russia, supporting distribution assets in Europe, the CIS, Asia, and North and South America. EuroChem employs more than 25,000 people globally.
For more information, please visit www.eurochemgroup.com or contact:
Head of Public Relations
Elena Kalinskaya /Leonid Fink
+44 (0) 20 3727 1000
Head of Investor Relations