EuroChem launches new subsidiary in Bulgaria
Zug, Switzerland/Pravets, Bulgaria 15 November 2017 – EuroChem Group AG (hereinafter “EuroChem”, “Group”), a leading global fertilizer company, today announces the official inauguration of its new subsidiary in Bulgaria. EuroChem Agro Bulgaria brings together the assets of leading fertilizer distribution company Agricola Bulgaria, acquired in March this year, and the expertise of EuroChem’s global business as part of the Group’s aim to become Europe’s leading fertilizer supplier.
Based in Pleven, Northern Bulgaria, EuroChem Agro Bulgaria will enable EuroChem to expand its distribution footprint in the country and more widely into south of eastern Europe.
EuroChem is planning to develop fertilizer production facilities in Bulgaria to facilitate the distribution of new premium products to the country’s farmers, and it is investing in research and development to trial these new products in Bulgaria.
Dmitry Strezhnev, CEO of EuroChem Group AG, said: “We are investing heavily in people and resources to bring our premium brands to Bulgaria, which is currently dominated by straight fertilizers and blended products. It is clear that more efficient fertilizers are needed to meet demands for reduced water use, lower emissions and reduced nitrate leakage while also achieving higher yields.”
EuroChem has trialed several of its premium fertilizer products, including Nitrophoska, ENTEC and UTEC in Bulgaria with participating farms seeing highly positive results.
“We see strong demands for these new products,” said Andrey Savchuk, Head of Sales & Marketing Europe & Turkey of EuroChem. “On large field commercial trials we have proven results, with farmers achieving higher yields and better returns with our more efficient products. We know that the quality of the cereals is assured, regardless of soil conditions or cold weather, when using our more efficient fertilizers.”
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.
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