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Soquimich Climbs After Report on Brazil, India Plans

Sept. 3 (Bloomberg) -- Soc. Quimica y Minera de Chile SA rose for a fourth day, rose after El Mercurio reported that the company plans to start producing in Brazil and may open a plant in India.

Chile’s biggest fertilizer producer, known as Soquimich, gained 1 percent to 22,700 pesos at 3:59 p.m. New York time, extending a gain in the last four days to 5.6 percent. Chile’s Ipsa equity index gained 0.7 percent.

Soquimich plans to begin producing about 40,000 metric tons in Brazil before increasing output levels, Chief Executive Officer, Patricio Contesse, said in an interview with the Santiago-based newspaper published today.

“We expect a positive share price reaction and maintain a positive outlook for the company and the industry,” BCI Corredor de Bolsa SA analysts said today in an e-mailed note. “We ratify the stock as one of the favorites in our recommended portfolio.”

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.

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