K+S Secures Potash Supply Agreement for Legacy Mine

K+S Aktiengesellschaft (FWB:SDF1) announced that K+S North America, its wholly owned subsidiary, has signed an exclusive master supply agreement with Koch Fertilizer Trading Sarl, an affiliate of Koch Fertilizer, for potash from the K+S Legacy mine in Saskatchewan.
As quoted in the press release:

The C$ 4.1 billion K+S Legacy mine will reach an annual capacity of about two million tonnes of potash by the end of 2017. Koch Fertilizer Trading Sarl receives exclusive rights to supply of a projected annual volume of 500,000 short tons (~ 453,000 metric tonnes) of granular potash for its U.S. customers.

Scott McGinn, president of Koch Fertilizer, commented:

This is an exciting opportunity for Koch Fertilizer to grow our portfolio of fertilizer products to U.S. retailers. We are proud to enter an agreement with K+S. This new agreement allows Koch Fertilizer to provide additional high quality products produced in North America.

Andreas Radmacher, executive board member of K+S, commented:

We are seeing enormous interest in potash from our Legacy mine both from existing and new customers. Koch Fertilizer is a distinguished partner with excellent experience marketing a robust portfolio of fertilizer products. This relationship highlights our position as a reliable and independent supplier in the market.

Click here to read the full K+S Aktiengesellschaft (FWB:SDF1) press release.