IHS Chemical Week

K+S plans further cost-cutting following potash cartel collapse

11:36 AM MDT | August 30, 2013

Potash producer K+S (Kassel, Germany) has warned employees that it will shortly announce new cost-cutting proposals to cope with the decline in potash prices caused by the collapse of the Belaruskali-Uralkali export cartel. In a letter to employees headed β€œWe are preparing ourselves for tougher times,” CEO of K+S Norbert Steiner says that new measures were needed on top of the existing efficiency improvement projects in order to maintain the profitability and liquidity of the company. β€œIt will be necessary for all units to make a significant contribution,"...

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