Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

04/28 18:51   Russia urges searching for possibilities of dialogue with North Korean leadership on nuclear, missile programs - Gatilov
 
04/28 18:46   T Plus net IFRS losses increase 1.8-fold to 18 bln rubles in 2016 (Part 2)
 
04/28 18:46   Mosenergo boosts power generation 7.7% in Q1 to 18.4 bln kWh
 
04/28 18:46   VEB swings to 111.9 bln ruble IFRS net loss in 2016 from profit a year before (Part 2)
 
04/28 18:45   Sanctions imposed on N. Korea should become instrument involving this country in constructive negotiations - Gatilov
 
04/28 18:44   Mikhelson buys bulk of Shamalov's stake in Sibur
 
04/28 18:39   Russia calls on N. Korea to scrap its missile, nuclear programs at UNSC meeting
 
04/28 18:34   North Korea unlikely to forsake nuclear weapons as long as it senses direct threat to its security - Gatilov
 
04/28 18:33   EXXON, RF TRYING TO RESOLVE TAX DISPUTE OUT OF COURT, STOCKHOLM ARBITRATION DEFERRED BY SEVERAL MONTHS - MINFIN
 
04/28 18:32   Magnit could pay out 6.37 bln rubles for 2016 dividends at 67.41 rubles per share
 


 

Interfax.com  |  Interfax news  |  UralChem's VMF shuts down production until May...


News headlines


February 14, 2014 09:58

UralChem's VMF shuts down production until May due to lack of feedstock

MOSCOW. Feb 14 (Interfax) - Voskresensk Mineral Fertilizers, a division of the UralChem group, shut down production for three months on February 7 due to a lack of feedstock, several sources at the company told Interfax. UralChem's press service confirmed this information.

"VMF has been temporarily put into an idle regime from February 7 to May 7, 2014 due to a lack of core feedstock. In accordance with labor legislation, workers will be paid two-thirds of the average wage during this period," the company said.

"If the situation with feedstock supplies does not improve in the period of the temporary shutdown, the question of completely shutting down VMF will be raised," a spokesman for UralChem said.

The company said that the Federal Anti-Monopoly Service (FAS), the Russian government, Industry and Trade Ministry and Moscow Region government have been notified of the situation. The timetable for considering the issue is from one to three months," the company said.

It was reported earlier that UralChem and PhosAgro (MOEX: PHOR) could not reach an agreement on supplies of feedstock - apatite concentrate - for VMF. VMF's contract for apatite concentrate supplies expired at the end of 2013. The companies did not sign a new contract, as they could not agree on pricing terms. VMF proposed to renew the contract on the previous terms, where the price of the apatite was calculated based on past prices adjusted for the industrial inflation index. VMF also proposed to buy 500,000 tonnes of apatite concentrate in 2014 instead of the 850,000 tonnes supplied in 2013.

PhosAgro was prepared to sign a contract based on one of the formulas recommended by the FAS, but UralChem said that under those pricing terms VMF would operate at a loss.

VMF tried to secure a contract for apatite supplies on its own terms through the courts in 2013. The court of first instance ruled in favor of Apatit. VMF appealed the ruling in appellate court, but withdrew the lawsuit on December 10, 2013.

PhosAgro said that, after the withdrawal of VMF's lawsuit, which stated that the company did not want to enter into a contract with the feedstock supplier, Apatit filled orders from other consumers and sold them the concentrate previously set aside pending the dispute with VMF. For 2014, VMF was offered the amount remaining that was not under contract - 60,000 tonnes.

UralChem said that in the course of negotiations VMF had agreed to buy feedstock at Apatit's asking price (about 5,200 rubles/t), but with the option to review it based on the results of the court proceedings.

VMF has not been buying apatite concentrate from PhosAgro since the start of this year and has been operating on feedstock reserves. In January 2014, VMF filed a new lawsuit against Apatit with the Moscow Arbitration Court and a preliminary hearing is scheduled for March 6.

Last week, the Russian government ordered the Industry and Trade Ministry and FAS to work out measures to resolve the problem with supplies of apatite concentrate to VMF.

VMF has capacity to produce 750,000 tonnes of MAP and DAP, 200,000 tonnes of ammonia, 300,000 tonnes of phosphoric acid and 1.1 million tonnes of sulphuric acid annually.

VMF accounts for about 10% of Russia's production of phosphate fertilizers, and is the principal employer in the Moscow Region city of Voskresensk. VMF produced 675,000 tonnes of mineral fertilizer in 2012.

Vp ak

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Global Natural Gas Daily
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire
Please enter the digits from picture in the box below:

April 28, 2017
 
18:39
Russia calls on N. Korea to scrap its missile, nuclear programs at UNSC meeting
 
18:34
North Korea unlikely to forsake nuclear weapons as long as it senses direct threat to its security - Gatilov
 
18:33
EXXON, RF TRYING TO RESOLVE TAX DISPUTE OUT OF COURT, STOCKHOLM ARBITRATION DEFERRED BY SEVERAL MONTHS - MINFIN
 
18:32
Magnit could pay out 6.37 bln rubles for 2016 dividends at 67.41 rubles per share
 
18:32
TGK-2 boosts Q1 IFRS earnings 25% to 2 bln rubles
 
18:31
 
18:31
Russian Justice Ministry appeals against ECHR's ruling on 63,000 euros payment to Navalny for unjustified detentions
 
18:27
RUSSIA URGES TO SEEK POSSIBLE CHANNELS OF COMMUNICATION WITH NORTH KOREA LEADERSHIP, PUSHING IT TOWARD SUBSTANTIVE DIALOGUE ON NUCLEAR, MISSILE PROGRAMS - GATILOV
 
18:25
FORCE OPTIONS AGAINST NORTH KOREA ABSOLUTELY UNACCEPTABLE AND FRAUGHT WITH DISASTROUS CONSEQUENCES FOR KOREAN PENINSULA, ENTIRE REGION - GATILOV
 
18:23
MOSCOW CALLS ON WASHINGTON, SEOUL TO RENEGE ON DEPLOYMENT OF MISSILE DEFENSE SYSTEMS IN SOUTH KOREA - GATILOV
 
18:22
FAS PRESCRIPTION WITH RESPECT TO DEAL BETWEEN M.VIDEO AND SAFMAR CONCERNS 2%-3% OF STORES
 
18:21
THREAT OF KOREAN PENINSULA STANDOFF GROWING INTO HOT PHASE REMAINS - GATILOV
 
18:21
Safmar buys 57.7% of M.video, to turn it into management co for retail assets (Part 2)
 
18:18
MIKHELSON INCREASES BENEFICIARY STAKE IN SIBUR TO 48.5%, SHAMALOV'S STAKE REDUCED TO 3.9% - COMPANY
 
 more headlines 



Interviews
 

.
Pakistani Defense Minister Khawaja Muhammad Asif has given an interview to Interfax correspondent Veronika Vishnyakova in which he speaks about his recent talks with Russian Defense Minister Sergei Shoigu, Pakistan-Russian interaction on Afghanistan, as well as his expectations from upcoming entry of Pakistan to the Shanghai Cooperation Organization (SCO).

more
.
.
Austrian Ambassador to Russia Emil Brix has given an interview to Interfax foreign political desk chief Olga Golovanova on the occasion of the 500th anniversary of bilateral relations, in which he speaks about Austrias position on Ukraine in light of resolving the South Tyrol conflict, about the use of sanctions in international relations, which he considers unwise, about Austrias neutral status, as well as Austrian-Russian energy cooperation.

more
.
.
High Representative of the European Union for Foreign Affairs and Security Policy / Vice-President of the European Commission Federica Mogherini has given an interview to Interfax correspondents Alexander Korzun and Viktor Onuchko ahead of her first visit to Russia. The interview covers such issues as prospects of partnership between the European Union and Russia, the situation in Ukraine, anti-Russian sanctions and the Syrian conflict.

more

 
  
 ©   1991—2017   Interfax Information Service. All rights reserved.
contact information   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100