Acron Wins Injunction Against Phosagro Apatite-Supply Cut
Stock Chart for Phosagro OAO (PHOR)
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 firstname.lastname@example.org
To contact the editor responsible for this story: John Viljoen at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.