PhosAgro has concluded its reorganisation of JSC Apatit, the company’s phosphate fertilizer enterprise located in Cherepovets, Russia, by incorporating JSC Metachem, an enterprise located in Volkhov and JSC PhosAgro-TRANS, a freight-forwarding company in Cherepovets.
PhosAgro CEO, Andrei Guryev, said: "PhosAgro’s merger of production and logistics assets into one legal entity has now been concluded. I am confident that these organisational changes will further improve the company's efficiency and business process management."
From 1 April 2019, all employees of JSC Metachem were transferred to the Volkhov branch of JSC Apatit. The staff of JSC PhosAgro-Trans joined the logistics department at JSC Apatit. All social obligations are implemented in full accordance with the previously approved programmes and collective bargaining agreements. There will be no significant changes in the structure of tax payments to regional and municipal budgets.