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 “We 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. “It will be necessary for all units to make a significant contribution,"...

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