09 Sep 2014
PhosAgro Becomes a Member of International Plant Nutrition Institute
September 9, 2014 – Moscow and Peachtree Corners, Georgia, U.S. – PhosAgro (Moscow Exchange, LSE: PHOR) joined the International Plant Nutrition Institute (IPNI) as an Ordinary Member.
PhosAgro’s membership was approved at the IPNI Board of Directors Meeting held on September 9, 2014 in San Francisco in conjunction with the 2014 World Fertilizer Conference held by The Fertilizer Institute (TFI).
PhosAgro is a vertically integrated company based in Russia and one of the world’s leading producers of phosphate-based fertilizers. Its core line of business is the production of phosphate-based fertilizers (MAP, DAP), high-grade phosphate rock, as well as feed phosphates, nitrogen fertilizers, and ammonia.
“PhosAgro’s decision to join IPNI is welcomed by our membership,” said IPNI President Dr. Terry L. Roberts. “Growth and diversity in our membership will continue to strengthen IPNI’s ability to support the agronomic science that is needed to accomplish our mission—to develop and promote responsible management of plant nutrition for the benefit of the human family.”
PhosAgro CEO Andrey Guryev said: “We are happy to join the International Plant Nutrition Institute, which is recognized as an authoritative global scientific organization. We believe that proper application of fertilizers is very important in order to both maximize the benefits for agricultural producers while ensuring care for the environment.
“I am confident that cooperation between IPNI and PhosAgro will enable us to find effective mechanisms for solving issues related to global food security, and will support the long-term, sustainable development of our industry.”
About the International Plant Nutrition Institute
The International Plant Nutrition Institute (IPNI) is a not-for-profit, science-based organization dedicated to the responsible management of plant nutrition for the benefit of the human family. IPNI began operating in January of 2007 as a successor to the Potash & Phosphate Institute (PPI), which was founded in the 1930s. IPNI has initiatives addressing the world’s growing need for food, fuel, fiber, and feedstocks.
IPNI now has active programs aimed at developing the mineral fertilizer markets in areas of the world where agriculture is developing fastest, including China, India, South East Asia, Latin America, the United States, Canada, the Middle East, Eastern Europe, Australia and Africa. In 2011 IPNI opened a representative office in Moscow, which coordinates programs in Russia, Kazakhstan, Ukraine and other countries in Eastern Europe and Central Asia.
Members of IPNI include leading global fertilizer producers (alphabetically): Agrium Inc.; Arab Potash Company; Belarusian Potash Company; BHP Billiton, CF Industries Holdings, Inc.; Compass Minerals Specialty Fertilizers; International Raw Materials LTD.; Intrepid Potash, Inc.; K+S KALI GmbH; OCP S.A.; PhosAgro; PotashCorp; QAFCO; Shell Sulphur Solutions; Simplot; Sinofert Holdings Limited; SQM; The Mosaic Company; Toros Tarim; Uralchem; and UralKali.
Affiliate members of IPNI include national and international fertilizer producer associations, as well as scientific research organizations and institutes (alphabetically): Arab Fertilizer Association (AFA); Canadian Fertilizer Institute (CFI); Fertiliser Association of India (FAI); International Fertilizer Industry Association (IFA); International Potash Institute (IPI); and The Fertilizer Institute (TFI).
Through cooperation with leading organizations throughout the world, IPNI helps to conduct research and educational programs, training and other projects related to agriculture.
About PhosAgro
PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers.
The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company’s mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.
PhosAgro’s 2013 IFRS revenue was over USD 3.3 bln and EBITDA was USD 752 mln. The Сompany’s net debt/EBITDA ratio was 1.8 at 31 December 2013.
—end—
Ref. # 14066
PhosAgro Contacts: Timur Belov, Press Officer, Phone: +7 495 232 9689; Sam VanDerlip, email: vanderlip@em-comms.com, Phone: +44 7554 993 032, +7 499 918 3134