The effect of the production adjustment on EBITDA is expected to be in the amount of up to 80 million euros.
“In the current weak market environment, which is further intensified by the continuing Chinese import bans on the standard potassium chloride product, adjusting production is a difficult decision, but the right one,” says Alexa Hergenröther, CEO of K+S's Europe+ operating unit.
“Irrespective of this, we are continuing to work hard on implementing the ongoing measures to increase product quality at the Bethune plant in Canada and to strengthen operational excellence at the German sites,” Hergenröther continued.
On November 14, the company will publish its Q3 results. K+S will then substantiate the range of earnings for the full year 2019.
K+S is a customer-focused, independent minerals company for the Agriculture, Industry, Consumers, and Communities segments and wants to grow the EBITDA to € 3 billion by 2030. Our approximately 15,000 employees enable farmers to provide nutrition for the world, solutions that keep industries going, improve daily life for consumers and provide safety in winter. We continually meet the growing demand for mineral products from production sites in Europe, North and South America as well as a worldwide sales network. We strive for sustainability because we are deeply committed to our responsibilities to people, environment, communities, and economy in the regions in which we operate. Learn more about K+S at www.k-plus-s.com.