Two leading Russian fertilizer producers, Uralkali (Berezniki) and Uralchem (Moscow) have agreed to acquire a controlling share in Fertilizantes Heringer (Sao Paulo, Brazil), now under bankruptcy protection. Fertilizantes Heringer, one of the largest fertilizer players in Brazil, said today that the two Russian firms would buy shares for 2 reais ($0.48) each in a deal that would result in a capital increase of up to $115 million.
The Russian firms signed a letter of intent on 21 September, and the deal is now subject to approvals, including by antitrust authorities. Signing of definitive documents is subject to negotiation of agreements and other documents on terms and conditions acceptable to both parties, Fertilizantes Heringer says.
Uralchem is a shareholder in Uralkali. Dmitry Mazepin, chairman of the board of directors of Uralchem, a producer of nitrogen and complex fertilizers, is also the deputy chairman of Uralkali, a major producer of potash fertilizers.
Earlier this year, Fertilizantes Heringer decided to close several of its plants and distribution centers as part of a restructuring plan to lower debt. The company, until then, operated 16 plants producing fertilizers from imported raw materials and one sulfuric acid plant.
By Natasha Alperowicz
Source: Chemical Week
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
