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K+S to sell salt business and focus on potash

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World Fertilizer,

K+S has announced it is to sell its North and South American salt business, with an accompanying focus on mineral fertilizers. A sales agreement (signing) is expected before the end of this year.

“The sale of our strong Americas salt business is a decisive step in setting the course for the future development of K+S. After intensive examination, it is the best option to achieve the urgently required reduction of the company's debt,” said Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S.

The sale will be accompanied by a comprehensive realignment of K+S, in which all sites will have to achieve a sustainable positive free cash flow. In addition, there will be a major restructuring of the organisation.

Following the completion of the transaction, K+S will be further developed into a supplier of fertilizers and specialties on the basis of solid financial resources. No sale of shares in the new Bethune potash plant in Canada is planned.

“Following the repositioning of K+S, we will be focusing on the expansion of the highly profitable fertilizer specialties business in the subsequent growth phase,” Lohr continued.

Following the signing, K+S will provide details of the transaction, the necessary restructuring and medium-term options for the development of the newly established business.

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