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COPYRIGHT 2005 BCInsight LTD
Kali und Salz AG (K+S) embarks on 2005 in a position of strength. In December 2004, the company formally completed its acquisition of the assets and marketing rights of the French potash company, SCPA. K+S has meanwhile attended to its production capability, and the recently completed sylvinite project in Germany will reap major gains in terms of efficiency and the guaranteed supply of high quality raw material.
As one chapter closes in France, another opens. On 14 December 2004, Kali und Salz AG (K+S) completed its acquisition of the fertilizer distribution and production capacity of the long-established Societe Commerciale des Potasses et de l'Azote (SCPA)--a wholly owned subsidiary of the state-controlled group, Entreprise Miniere et Chimique (EMC). The deal formally brought an end to direct French involvement in the potash industry. This had been on course once EMC put SCPA up for sale in 2003, after the last potash mine in Alsace closed down following the depletion of its reserves.
While EMC declared at the time the For Sale sign was posted that "It made little sense for a public company without any mining activities to continue running commercial operations," SCPA remained a profitable operation with a significant portfolio of assets. The termination of potash mining in...
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