Norica Holding S.a.r.l (a subsidiary of OJSC Acron) has announced that it increased its stake in the share capital of Grupa Azoty, a Polish firm, to 20%.
Commenting on the event, Acron Group’s Vice-President Vladimir Kantor said: “We have increased our shareholding in Grupa Azoty to 20% due to our high appreciation of the synergy potential actualized by the recent consolidation of Grupa Azoty’s assets and our comprehension of the cost-cutting and resource optimization possibilities ahead. On top of that, we rely on strategic partnership between Acron Group and Grupa Azoty as a relationship that will contribute to a stable and effective development of both companies. Acron Group has built a vertically-integrated business model starting from its own extracting capacity up to global logistical and marketing infrastructure, and can offer Grupa Azoty a wide range of options for mutually beneficial cooperation. Acron has been successfully developing a raw materials base of its own, comprising potash and phosphate mines, and is already prepared to ensure regular deliveries of high-quality phosphate feedstock to Grupa Azoty’s plants. Thanks to Acron’s global marketing and logistical infrastructure, Grupa Azoty will be able to enter new geographic markets and increase its competitiveness.”
