Uralkali's co-owner Onexim believes resuming cooperation with Belaruskali could be beneficial to both firms
Russian potash producer Uralkali’s co-owner Onexim believes that resuming cooperation with Belarusian potash company Belaruskali could be beneficial to both firms, according to a newswire report.
Reuters cited Onexim Chief Executive Dmitry Razumov, noting that such cooperation would also be beneficial to the global market.
Last year, Uralkali left a joint venture with Belarus, the article reported. According to Razumov, Uralkali feels comfortable at present. The company operates at its full capacity and sells 100% of its production in the market, he told Reuters.
If Uralkali and Belaruskali reach an agreement, the terms of the cooperation would have to comply with laws and be observed by both participants, and would have to be advantageous to both parties, Razumov noted. He refused to disclose details of the terms of such an agreement.
Onexim, an investment vehicle of Russian entrepreneur Mikhail Prokhorov, last year acquired a 27% stake in Uralkali, the report noted. Uralkali’s other co-owner is Uralchem, a Russian chemicals company controlled by Dmitry Mazepin, which purchased a 20% stake.
Uralkali is regarded by Onexim, as a long-term strategic investment, Razumov also told Reuters.
Russian daily Vedomosti picked up this development and reported that Onexim believes that revival of a joint trader company with Belaruskali would be beneficial to both firms. Uralchem does not oppose resuming cooperation, the paper also reported citing the company spokesperson. Vedomosti said it was unable to get a comment from Belaruskali.
In the near future, Uralkali will see changes in its board of directors, the item reported. Sergei Chemezov, head of Russian state conglomerate Rostec may become Uralkali’s chairman, the paper added, citing Razumov.
Source Newswire Round-up, Vedomosti