FAS ordered Silvinit and Chairman of Audit Committee until February 1 to conclude contracts with consumers of potassium chloride at an economically reasonable prices

December 21, 2009, FAS Russia recognized Silvinit “, JSC” Mineral Trading and Uralkali violated Part 1 Article 11 of the Federal Law “On Protection of Competition” (concerted actions restricting competition). FAS has determined that the contract between the “Mineral Trading” and “sylvinite is an agreement that led to the establishment of the resale price of the goods.

Commission FAS has determined that an economically sound price of mineral concentrate Silvinit production “sylvite in 2009 is the price not to exceed 3755 rubles (excluding VAT) per tonne.

“marketing scheme created by Silvinit and LLC Mineral Trading, has led to increased costs and unnecessary establish resale prices for potash, - said Head of the monitoring of the chemical industry and agribusiness Teimuraz Haritonashvili .- As a result, consumers of mineral fertilizers were forced in 2009 to pay 200 rubles unnecessarily each ton of minerals.

Board issued FAS, sylvite, Uralkali and Mineral Trading regulations aimed at stabilizing the situation and the development of competition in the market for potassium chloride.

“FAS Russia issued Silvinit and Uralkali considered indicative for the subsequent calculation of prices for potassium chloride in 2010, the economically justified price of 3755 rubles per ton. We will closely monitor the implementation of these business entities decisions and orders FAS Russia “, - said Andrey Tsyganov, Deputy Head.
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