OJSC United Chemical Company Uralchem has completed the consolidation of the shares of PJSC Minudobrenia (Perm), UralChem informed.
Since September 7, 2012, UralChem has been holding 55.73% of all the common shares of the public joint-stock company Minudobrenia Perm. Taking into account the 44.27% stake in PJSC Minudobrenia Perm held by Uralchem Freight Ltd (an affiliate company belonging to the group of persons constituting OJSC United Chemical Company Uralchem), UralChem Group has consolidated 100% of the Perm company's common shares.
"Consolidation of 100% of the shares will enable us to streamline the corporate governance, to optimize the management of financial flows, to cut down administrative expenses considerably," the company commented.
OJSC United Chemical Company Uralchem (tax number: 7703647595) is one of the largest companies in the market of nitrogen and phosphoric fertilizers in the Russian Federation and the CIS, ranking second worldwide and first in Russia in the ammonium nitrate production and ranks second in Russia by the nitrogen fertilizers output.
Uralchem's basic assets include 100% of voting shares of OJSC Kirovo-Chepetskiy Himicheskiy Kombinat imeni B.P. Konstantinova (KChHK, Kirovo-Chepetsk), 100% of shares of OJSC Azot (Berezniki, Perm Krai), 71.72% of voting shares of OJSC Voskresenskiye Mineralniye Udobreniya (Voskresensk, Moscow region), 100% of shares in URALCHEM-Trans and Uralchem Freight Limited.
Net profit (IFRS) of Uralchem Holding for H1 2012 increased by 37% to $444 million. Revenue of United Chemical Company Uralchem increased by 21.8% to $1.261 billion with 1.035 billion, operating profit to $410 million from $288 million, adjusted EBITDA to $462 million from $337 million.
Net profit (RAS) of UCC UralChem for 2011 decreased by 20.81% to RUB 4.054 billion. Revenue increased 2.46-fold to RUB 20.752 billion from RUB 8.415 billion, sales profit by 1.56% to RUB 7.787 billion from RUB 7.668 billion.