K+S Plans $673 Million in Savings to Counter Potash Slump
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K+S AG, Europe’s largest potash supplier, plans 500 million euros ($673 million) in cost savings over the next three years to help counter weakened potassium and potash markets and make it more competitive.
The bulk of the planned savings, under a program named “Fit for the Future,” will stem from material costs though the company is also considering job cuts, Kassel, Germany-based K+S said in a statement today. K+S reported operating profit of 115.8 million euros in the third quarter. That compared with analysts median prediction of 106.5 million euros in a survey.