30 Nov 2012 15:08

PhosAgro to merge two subsidiaries

MOSCOW. Nov 30 (Interfax) - Russian fertilizer company OJSC PhosAgro has decided to merge two of its subsidiaries CJSC Biotechnologies and CJSC Agro-Cherepovets, PhosAgro said in a press release.

The merger is aimed at optimizing the structure of the group's subsidiaries.

PhosAgro wholly owns both the subsidiaries and its interest will not change with the merger.

CJSC Agro-Cherepovets produces urea and together with OJSC PhosAgro-Cherepovets it comprises the Cherepovets Production Complex.