Major Russian supplier of fertilizer out of Ukraine – media

Крупный российский поставщик удобрений уходит из Украины - СМИ

EuroChem has announced the sale of its subsidiary in Ukraine

EuroChem announced the sale of its subsidiary in Ukraine. The company explains that the Kiev’s decision to impose a ban on the import of fertilizers from Russia.

The Russian company EuroChem (EuroChem Group AG) intends to leave the Ukrainian market, where he worked for 15 years. The company announced the sale of its subsidiary in the country, said on Wednesday, may 16, RBC.

Noted that EuroChem explains that the Kiev’s decision to introduce a temporary ban on the import of mineral fertilizers from Russia.

“The recent actions of the Ukrainian authorities to restrict the supply of fertilizers by foreign companies and expectations of further deterioration in business conditions in this market became the reason of this decision”, – stated in the message of the company.

It is noted that a subsidiary bought a company, “connected with his former management”. The cost of the transaction and its conditions, EuroChem does not disclose.

In addition, the company announced that it intends to continue consultations with the Ukrainian authorities about future opportunities in the country through its European office. The group intends to focus on other growing markets.

Recall, March 14, the Ukrainian government has supported a temporary embargo on the import of mineral fertilizers from Russia. In September 2017 Kiev also imposed sanctions against several group companies EuroChem and other Russian suppliers of fertilizers.

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