Russia’s EuroChem launches new subsidiary in Bulgaria

MOSCOW, Nov 15 (PRIME) -- Russian fertilizer producer EuroChem has launched a subsidiary in Bulgaria on the basis of local fertilizer producer Agricola Bulgaria that the company bought in March, EuroChem said in a statement on Wednesday.

“The EuroChem Group AG…today announces the official inauguration of its new subsidiary in Bulgaria. EuroChem Agro Bulgaria brings together the assets of leading fertilizer distribution company Agricola Bulgaria, acquired in March this year, and the expertise of EuroChem’s global business as part of the Group’s aim to become Europe’s leading fertilizer supplier,” the company said.

EuroChem Agro Bulgaria will allow the company to expand its distribution network not only in the country, but in a part of Eastern Europe as well. “EuroChem is planning to develop fertilizer production facilities in Bulgaria to facilitate distribution of new premium products to the country’s farmers, and it is investing in research and development to trial these new products in Bulgaria,” the company said.

“We are investing heavily in people and resources to bring our premium brands to Bulgaria, which is currently dominated by straight fertilizers and blended products. It is clear that more efficient fertilizers are needed to meet demands for reduced water use, lower emissions and reduced nitrate leakage while also achieving higher yields,” the company said quoting CEO Dmitry Strezhnev.

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