“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.
Read the article online at: https://www.worldfertilizer.com/potash/12032020/ks-to-sell-salt-business-and-focus-on-potash/