OJSC PhosAgro (PHOR)
Alexander Gilgenberg Appointed General Director of Apatit
Cherepovets (Vologda region) - Alexander Gilgenberg has been appointed as General Director of Apatit. Alexander has worked at PhosAgro enterprises since 1999. Prior to today's appointment, he held the position of First Deputy General Director of Apatit.
Vladimir Davydenko, who previously headed Apatit, will now oversee the technical development of PhosAgro enterprises.
PhosAgro CEO Andrey Guryev said: "These changes in the management structure of our production assets will enable the Company to take on the challenges we face at the current stage of our development. PhosAgro's recently-announced Strategy to 2025 calls for a large-scale investment programme of USD 3 billion. This requires direct personal control over investment activities, which will be carried out by Vladimir Davydenko with his enormous professional experience in this area. As First Deputy General Director of Apatit for technical development, he will focus on the construction and modernisation of production facilities using best available techniques."
By 2025, PhosAgro plans to increase its production of fertilizers and feed phosphates to 11.7 million tonnes, which is 25% higher compared to 2018. The strategy also calls for the range of fertilizer grades produced by the Company to expand from 39 in 2018 to 50, including new high-performance brands with bio-additives.
PhosAgro is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of 39% and higher. PhosAgro's pure phosphate-based fertilizers stand out for their high efficiency and their environmental safety for the health of people and soils.
The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, 39 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and Global Depositary Receipts (GDRs) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru.
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