Bloomberg News

Acron Wins Injunction Against Phosagro Apatite-Supply Cut

June 18, 2012

OAO Acron, a Russian fertilizer producer, won an injunction preventing any move by OAO Phosagro to reduce or suspend apatite-concentrate supplies until a court case into a contract dispute is heard.

Acron won the order against Phosagro’s Apatit unit on June 15, the Velikiy Novgorod-based producer said today in a statement. It’s seeking to uphold a contract to buy the mineral at a price of 3,671.36 rubles ($113.16) a metric ton this year.

Phosagro will appeal the decision, the company’s press service said today by e-mail, adding that it will observe the ruling in the interim. The company plans to agree on a supply schedule with Acron shortly, it said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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