CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

China conditionally approves merger between two Russian fertilizer producers

06-03-2011 08:44 BJT

BEIJING, June 2 (Xinhua) -- China's Ministry of Commerce (MOC) said Thursday that it has conditionally approved a merger between Russian fertilizer companies Uralkali and Silvinit.

The ministry decided to impose restrictive conditions on the merger, as it may result in excludability and restricted competition in the country's potassium chloride market, the MOC said in a statement posted on its website.

The business operator created after the merger will be required to fulfill "certain obligations" as part of the restrictive conditions, the statement said.

The operator should continue to directly sell potassium chloride to the Chinese market while ensuring stable and reliable supplies of potassium chloride products, the statement said.

The operator must also keep mutual agreement procedures in place and take its trading history and status with its Chinese clients into full consideration when negotiating prices, the statement said.

The operator must report its commitments to the MOC semi-annually or upon being requested to do so by the MOC, the statement said.

The MOC has the right to supervise and inspect the implementation of its restrictive conditions and impose punishments according to Chinese law in case of violations, the statement said.

Half of China's potassium chloride supplies are imported, and half of those imports come from Uralkali, Silvinit and their associated companies.

Uralkali, one of the world's largest producers of fertilizer, announced that it would take over Silvinit in December 2010. About 90 percent of its products are sold in China, Brazil, India and Malaysia.

 

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program