K+S reduces potash production, responding weak demand

K+S reduces potash production, responding to weak demand

6:10 AM, 24th September 2019
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KASSEL, GERMANY: K+S AG said that it is reducing fertilizer production for potassium chloride by up to 300 thousand tonnes by the end of 2019. This is in respond to the current weak demand for potash. The effect of the production adjustment on EBITDA is expected to be in the amount of up to €80 million.

“In the current weak market environment, which is further intensified by the continuing Chinese import bans on the standard potassium chloride product, adjusting production is a difficult decision, but the right one,” said Alexa Hergenrother, CEO of K+S's Europe+ operating unit.

“Irrespective of this, we are continuing to work hard on implementing the ongoing measures to increase product quality at the Bethune plant in Canada and to strengthen operational excellence at the German sites,” added Hergenrother.

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