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K+S reports lower sales and earnings, seeks savings of €500 million

1:30 AM MST | November 14, 2013 | Natasha Alperowicz

K+S said today that lower prices and uncertainty on the global potash markets following the collapse of one of the world's two large cartels have contributed to lower third-quarter revenues and earnings. The company is widening its Fit for the Future efficiency program, which aims to achieve €500 million ($672.9 million) in savings over the next three years. The plan involves increasing efficiencies in production and in administrative and sales functions. K+S expects a cost reduction of €150 million in 2014.   “Our objective is to increase...

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