Gazprom Neftekhim Salavat may sell fertilizer maker
MOSCOW. Dec 17 (Interfax) - The board of directors of Gazprom Neftekhim Salavat (GNS) will consider selling off fertilizer maker OJSC Meleuzovskie Mineralnye Udobreniya at a meeting on December 19, GNS said in materials.
GNS currently owns 100% of the fertilizer concern.
Several fertilizer market sources are aware that GNS held negotiations to sell this business. A source familiar with the company's plans confirmed that GNS intends to sell Meleuzovskie Mineralnye Udobreniya, but he did not name the likely buyer.
Meleuzovskie Mineralnye Udobreniya produces nitrate, nitrate phosphate and complex fertilizers. It has capacity to produce 450,000 tonnes of ammonium nitrate and 450,000 tonnes of compound fertilizer a year. However, the company is currently operating below capacity and produced 306,700 tonnes of mineral fertilizer in 2012, including 140,000 tonnes of compound fertilizer and 157,000 tonnes of ammonium nitrate.
Based on this, BCS analyst Oleg Petropavlovsky valued the company at 4 billion rubles ($125 million). He said privately held companies might be interested in the plant.
