Obbligazione K+S AG 2.625% ( XS1591416679 ) in EUR

K+S AG

100 EUR ▼

Germania

XS1591416679 ( in EUR )

2.625% per anno ( pagato 1 volta l'anno)

05/04/2023 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione K+S Aktiengesellschaft XS1591416679 in EUR 2.625%, scaduta

1 000 EUR

625 000 000 EUR

K+S Aktiengesellschaft è una società tedesca multinazionale che opera nel settore minerario e della chimica, specializzata nell'estrazione e nella commercializzazione di fertilizzanti potassici e sali industriali.

The Obbligazione issued by K+S AG ( Germany ) , in EUR, with the ISIN code XS1591416679, pays a coupon of 2.625% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 05/04/2023

K+S Aktiengesellschaft
(Kassel, Federal Republic of Germany)
EUR [] [] per cent. fixed rate notes due 2023, issue price: [] per cent.
K+S Aktiengesellschaft, Bertha-von-Suttner-Strasse 7, 34131 Kassel, Germany (the "Issuer" or "K+S AG" and
together with its consolidated subsidiaries and affiliates, "K+S Group" or the "Group"), will issue on or about
6 April 2017 (the "Issue Date") EUR [] [] per cent. fixed rate notes in bearer form due 2023 (the "Notes") with a
denomination of EUR 1,000 each. The Notes will be governed by the laws of the Federal Republic of Germany
("Germany").
This prospectus (the "Prospectus") constitutes a prospectus within the meaning of Article 5.3 of the Directive
2003/71/EC of the European Parliament and of the Council of 4 November 2003 (as amended, inter alia, by Directive
2010/73/EU) (the "Prospectus Directive"). This Prospectus will be published in electronic form together with all
documents incorporated by reference herein on the website of the Luxembourg Stock Exchange (www.bourse.lu).
This Prospectus has been approved by the Commission de Surveillance du Secteur Financier of the Grand Duchy of
Luxembourg (the "CSSF") in its capacity as competent authority under the Luxembourg law relating to prospectuses
for securities (Loi du 10 juillet 2005 relative aux prospectus pour valeurs mobilières), as amended, (the "Luxembourg
Prospectus Law"), which implements the Prospectus Directive into Luxembourg law. Pursuant to Article 7(7) of the
Luxembourg Prospectus Law, by approving this Prospectus, the CSSF gives no undertaking as to the economic and
financial soundness of the transaction and the quality or solvency of the Issuer. The Issuer has requested the CSSF
to provide the competent authorities in Germany, Austria and The Netherlands and may request to provide competent
authorities in additional host Member States within the European Economic Area with a certificate of approval
attesting that the Prospectus has been drawn up in accordance with the Luxembourg Prospectus Law (the
"Notification").
Application has been made to the Luxembourg Stock Exchange for the Notes to be admitted to trading on the
Luxembourg Stock Exchange's regulated market and to be listed on the official list of the Luxembourg Stock
Exchange (the "Official List"). The Luxembourg Stock Exchange's regulated market is a regulated market for the
purposes of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in
financial instruments, as amended.
The final issue price, the aggregate principal amount of Notes to be issued, the interest rate, the margin which will be
added to the benchmark yield, the interest, maturity and ISIN of the benchmark security, the issue proceeds and the
yield will be included in the Pricing Notice (as defined in "SUBSCRIPTION, SALE AND OFFER OF THE NOTES"
below) which will be filed with the CSSF and published on the website of the Luxembourg Stock Exchange
(www.bourse.lu) on or prior to the Issue Date of the Notes.
The Notes have been assigned the following securities codes:
ISIN XS1591416679, Common Code 159141667, WKN A2E4U9.
The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") and the Notes are in bearer form that are subject to U.S. tax law
requirements. Subject to certain exceptions, the Notes may not be offered, sold or delivered within the
United States of America ("United States") or to, or for the account or benefit of, U.S. persons (as defined in
Regulation S under the U.S. Securities Act ("Regulation S")).
Investing in the Notes involves certain risks. See "RISK FACTORS" beginning on page 37.
Joint Lead Managers
Barclays
Landesbank
RBC Capital Markets
Santander Global
Baden-Württemberg
Corporate Banking
Co-Managers
Deutsche Bank
HSBC
This Prospectus is dated 29 March 2017
1

RESPONSIBILITY STATEMENT
The Issuer accepts responsibility for the information contained in this Prospectus and
hereby declares that, having taken all reasonable care to ensure that such is the case, the
information contained in this Prospectus is, to the best of its knowledge, in accordance with
the facts and does not omit anything likely to affect its import.
The Issuer further confirms that (i) this Prospectus contains all information with respect to
the Issuer, K+S Group and the Notes which is material in the context of the issue and offering
of the Notes, including all information which, according to the particular nature of the Issuer
and of the Notes is necessary to enable investors and their investment advisers to make an
informed assessment of the assets and liabilities, financial position, profits and losses, and
prospects of the Issuer and K+S Group and of the rights attached to the Notes; (ii) the
information contained in this Prospectus relating to the Issuer, K+S Group and the Notes is
accurate and complete in all material respects and not misleading; (iii) that any opinions and
intentions expressed herein are honestly held and based on reasonable assumptions; (iv)
there are no other facts in relation to the Issuer, K+S Group or the Notes the omission of
which would, in the context of the issue and offering of the Notes, make this Prospectus as a
whole or any of such information or the expression of any such opinions or intentions
misleading in any material respect; and (v) reasonable enquiries have been made by the
Issuer to ascertain all such facts for the purposes aforesaid.
NOTICE
No person is authorised to give any information or to make any representations other than
those contained in this Prospectus and, if given or made, such information or representations
must not be relied upon as having been authorised by or on behalf of the Issuer or the
Managers (as defined in "SUBSCRIPTION, SALE AND OFFER OF THE NOTES"). Neither
the delivery of this Prospectus nor any offering, sale or delivery of any Notes made hereunder
shall, under any circumstances, create any implication (i) that the information in this
Prospectus is correct as of any time subsequent to the date hereof or, as the case may be,
subsequent to the date on which this Prospectus has been most recently supplemented, or (ii)
that there has been no adverse change in the financial situation of the Issuer which is material
in the context of the issue and sale of the Notes since the date of this Prospectus or, as the
case may be, the date on which this Prospectus has been most recently supplemented, or the
balance sheet date of the most recent financial statements which are deemed to be
incorporated into this Prospectus by reference or (iii) that any other information supplied in
connection with the issue of the Notes is correct at any time subsequent to the date on which
it is supplied or, if different, the date indicated in the document containing the same.
This Prospectus contains certain forward-looking statements, including statements using
the words "believes", "anticipates" "intends", "expects" or other similar terms. This applies in
particular to statements under the caption "INFORMATION ON K+S AG AS ISSUER 
Business Overview" and statements elsewhere in this Prospectus relating to, among other
things, the future financial performance, plans and expectations regarding developments in
the business of the Issuer. These forward-looking statements are subject to a number of risks,
uncertainties, assumptions and other factors that may cause the actual results, including the
financial position and profitability of the Issuer, to be materially different from or worse than
those expressed or implied by these forward-looking statements. Neither the Issuer nor the
Managers assume any obligation to update such forward-looking statements and to adapt
them to future events or developments.
2

Certain numerical figures set out in this Prospectus, including financial data presented in
millions or thousands and percentages, have been subject to rounding adjustments and, as a
result, the totals of the data in this Prospectus may vary slightly from the actual arithmetic
totals of such information.
Furthermore, this Prospectus contains industry related data taken or derived from industry
and market research reports published by third parties ("External Data"). Commercial
publications generally state that the information they contain originated from sources
assumed to be reliable, but that the accuracy and completeness of such information is not
guaranteed and that the calculations contained therein are based on a series of assumptions.
The External Data have not been independently verified by the Issuer.
The External Data was reproduced accurately by the Issuer in the Prospectus, and as far
as the Issuer is aware and is able to ascertain from information published by any third party,
no facts have been omitted that would render the reproduced External Data inaccurate or
misleading. The Issuer does not have access to the underlying facts and assumptions of
numerical and market data and other information contained in publicly available sources.
Consequently, such numerical and market data or other information cannot be verified by the
Issuer.
This Prospectus should be read and understood in conjunction with any supplement
hereto and with any documents incorporated herein by reference. The final issue price, the
aggregate principal amount of Notes to be issued, the interest rate, the margin which will be
added to the benchmark yield, the interest, maturity and ISIN of the benchmark security, the
issue proceeds and the yield of the issue will be included in the Pricing Notice (as defined in
"SUBSCRIPTION, SALE AND OFFER OF THE NOTES" below) which will be filed with the
CSSF and published on the website of the Luxembourg Stock Exchange (www.bourse.lu) on
or prior to the Issue Date of the Notes.
Neither the Managers nor any other person mentioned in this Prospectus, except for the
Issuer, is responsible for the information contained in this Prospectus or any other document
incorporated herein by reference, and accordingly, and to the extent permitted by the laws of
any relevant jurisdiction, none of these persons accepts any responsibility for the accuracy
and completeness of the information contained in any of these documents. The Managers
have not independently verified any such information and accept no responsibility for the
accuracy thereof.
Each investor contemplating purchasing any Notes should make its own independent
investigation of the financial condition and affairs, and its own appraisal of the
creditworthiness of the Issuer. This Prospectus does not constitute an offer of Notes or an
invitation by or on behalf of the Issuer or the Managers to purchase any Notes. Neither this
Prospectus nor any other information supplied in connection with the Notes should be
considered as a recommendation by the Issuer or the Managers to a recipient hereof and
thereof that such recipient should purchase any Notes.
This Prospectus does not constitute, and may not be used for the purposes of, an offer or
solicitation by anyone in any jurisdiction in which such offer or solicitation is not authorised or
to any person to whom it is unlawful to make such offer or solicitation.
The offer, sale and delivery of the Notes and the distribution of this Prospectus in certain
jurisdictions is restricted by law. Persons into whose possession this Prospectus comes are
required by the Issuer and the Managers to inform themselves about and to observe any such
3

restrictions. In particular, the Notes have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "Securities Act"), and are subject to
special U.S. tax law requirements where held by U.S. persons (TEFRA D rules). Subject to
certain limited exceptions, the Notes may not be offered, sold or delivered within the United
States of America ("United States") or to U.S. persons.
For a further description of certain restrictions on offerings and sales of the Notes and
distribution of this Prospectus (or of any part thereof) see "SUBSCRIPTION, SALE AND
OFFER OF THE NOTES Sel ing Restrictions."
The legally binding language of this Prospectus is English. Any part of the Prospectus in
German language constitutes a translation, except for the terms and conditions of the Notes
(the "Terms and Conditions") in respect of which German is the legally binding language.
In this Prospectus, unless otherwise specified, all references to "", "EUR" or "Euro" are to
the currency introduced at the start of the third stage of the European economic and monetary
union, and as defined in Article 2 of Council Regulation (EC) No 974/98 of 3 May 1998 on the
introduction of the Euro, as amended, references to "USD" are to the legal currency of the
United States of America, references to "CAD" are to the legal currency of Canada and
references to "AUD" are to the legal currency of Australia.
IN CONNECTION WITH THE ISSUE OF THE NOTES, BARCLAYS BANK PLC (OR
PERSONS ACTING ON ITS BEHALF) MAY OVER-ALLOT NOTES OR EFFECT
TRANSACTIONS WITH A VIEW TO SUPPORTING THE PRICE OF THE NOTES AT A
LEVEL HIGHER THAN THAT WHICH MIGHT OTHERWISE PREVAIL. HOWEVER, THERE
IS NO ASSURANCE THAT BARCLAYS BANK PLC (OR PERSONS ACTING ON ITS
BEHALF) WILL UNDERTAKE STABILISATION ACTION. ANY STABILISATION ACTION
MAY BEGIN AT ANY TIME AFTER THE ADEQUATE PUBLIC DISCLOSURE OF THE
TERMS OF THE OFFER OF THE NOTES AND, IF BEGUN, MAY BE ENDED AT ANY TIME,
BUT IT MUST END NO LATER THAN THE EARLIER OF 30 CALENDAR DAYS AFTER THE
DATE OF THE RECEIPT OF THE PROCEEDS OF THE ISSUE BY THE ISSUER AND 60
CALENDAR DAYS AFTER THE DATE OF THE ALLOTMENT OF THE NOTES. SUCH
STABILISING SHALL BE IN COMPLIANCE WITH ALL LAWS, DIRECTIVES,
REGULATIONS AND RULES OF ANY RELEVANT JURISDICTION.
This Prospectus may only be used for the purpose for which it has been published.
This Prospectus does not constitute and may not be used for the purposes of an
offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is
not authorised or to any person to whom it is unlawful to make such an offer or
solicitation.
4

TABLE OF CONTENTS
SUMMARY....................................................................................................................... 6
GERMAN TRANSLATION OF THE SUMMARY (ZUSAMMENFASSUNG) .................... 20
RISK FACTORS ............................................................................................................ 37
USE OF PROCEEDS ..................................................................................................... 59
INFORMATION ON K+S AG AS ISSUER ...................................................................... 60
INFORMATION ON MINERAL DEPOSITS .................................................................... 83
TERMS AND CONDITIONS OF THE NOTES ................................................................ 89
TAXATION ................................................................................................................... 121
SUBSCRIPTION, SALE AND OFFER OF THE NOTES ............................................... 135
GENERAL INFORMATION .......................................................................................... 142
INCORPORATION BY REFERENCE ........................................................................... 144
5

SUMMARY
Summaries are made up of disclosure requirements known as "Elements". These elements are
numbered in Sections A E (A.1 E.7).
This summary contains all the Elements required to be included in a summary for this type of securities
and Issuer. Because some Elements are not required to be addressed, there may be gaps in the
numbering sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the type of
securities and Issuer, it is possible that no relevant information can be given regarding the Element. In
this case a short description of the Element is included in the summary with the mention of "not
applicable".
Section A Introduction and warnings
Element
Description of
Disclosure requirement
Element
A.1
Warnings
This summary should be read as an introduction to this Prospectus.
Any decision to invest in the Notes should be based on consideration
of this Prospectus as a whole by the investor.
Where a claim relating to the information contained in this Prospectus
is brought before a court, the plaintiff investor might, under the national
legislation of its member state to the Agreement on the European
Economic Area ("EEA"), have to bear the costs of translating this
Prospectus before the legal proceedings are initiated.
Civil liability attaches only to those persons who have tabled this
summary including any translation thereof, but only if this summary is
misleading, inaccurate or inconsistent when read together with the
other parts of this Prospectus or it does not provide, when read
together with the other parts of this Prospectus, key information in
order to aid investors when considering whether to invest in the Notes.
A.2
Consent to the Each of Banco Santander, S.A., Barclays Bank PLC, Landesbank
use of the
Baden-Württemberg and RBC Europe Limited (each a "Joint Lead
prospectus
Manager" and together the "Joint Lead Managers") and Deutsche
Bank, London Branch and HSBC Bank plc (each a "Co-Manager" and
together the "Co-Managers" and the Co-Managers together with the
Joint Lead Managers the "Managers") and each further financial
intermediary subsequently reselling or finally placing the Notes is
entitled to use the Prospectus in Austria, Germany, The Netherlands
and Luxembourg for the subsequent resale or final placement of the
Notes during the period from and including 30 March 2017 to and
including 6 April 2017, provided however, that the Prospectus is still
valid in accordance with Article 11(2) of the Luxembourg law relating
to prospectuses for securities (Loi du 10 juillet 2005 relative aux
prospectus pour valeurs mobilières) as amended (the "Luxembourg
Prospectus Law") which implements Directive 2003/71/EC of the
European Parliament and of the Council of 4 November 2003 (as
6

amended, inter alia, by Directive 2010/73/EU of the European
Parliament and of the Council of 24 November 2010) into Luxembourg
law.
The Prospectus may only be delivered to potential investors together
with all supplements published before such delivery in accordance
with Art. 13 of the Luxembourg Prospectus Law published before such
delivery. Any supplement to the Prospectus in accordance with Art. 13
of the Luxembourg Prospectus Law will be available for viewing in
electronic form on the website of the Luxembourg Stock Exchange
(www.bourse.lu).
When using the Prospectus, each relevant further financial
intermediary must make certain that it complies with all applicable laws
and regulations in force in the respective jurisdictions.
In the event of an offer being made by a further financial
intermediary, such further financial intermediary shall provide
information to investors on the terms and conditions of the Notes
at the time of that offer.
Section B Issuer
Element Description
of
Disclosure requirement
Element
B.1
Legal and
K+S Aktiengesellschaft is the legal and commercial name of the
commercial
Issuer.
name
B.2
Domicile, legal
The Issuer is a German stock corporation (Aktiengesellschaft)
form,
incorporated and operating under the laws of the Federal Republic of
legislation,
Germany and domiciled in the Federal Republic of Germany.
country of
incorporation
B.4b
Known trends
For 2017, K+S Group expects the global potash demand to be slightly
affecting the
above the level in 2016 (2016: around 64 million tonnes including
Issuer and the
about 4 million tonnes of potassium sulphate and potash grades with a
industries in
lower mineral content). While the prices of fertilizer specialties such as
which it
potassium sulphate (SOP) are expected to remain at a good level, the
operates
prices for standard potash (MOP) are expected to only recover
gradually, especially in some overseas regions.
B.5
Description of
K+S AG mainly acts as the holding company for the K+S Group and
the Group and
holds shares, directly and indirectly, in its subsidiaries.
the Issuer's
position within
the Group
B.9
Profit forecast
Not applicable. No profit forecasts or estimates are made.
or estimate
7

B.10
Nature of any
Not applicable. The auditor has issued unqualified audit reports for the
qualifications
consolidated financial statements of the Issuer for the fiscal years
in the audit
ended 31 December 2015 and 31 December 2016.
report on
historical
financial
information
B.12
Selected
The following table sets out selected financial information relating to
historical key
K+S Group. The information marked as "audited" has been extracted
financial
from the audited consolidated financial statements of K+S AG for the
information
fiscal year ended 31 December 2016 and for the fiscal year ended
31 December 2015. These consolidated financial statements of K+S
AG have been prepared in accordance with the International Financial
Reporting Standards, as endorsed by the EU, ("IFRS").
Fiscal year ended
Fiscal year ended
31 December 2016
31 December 2015
(audited unless otherwise
(audited unless otherwise
indicated)
indicated)
(EUR in millions)
Revenues
3,456.6
4,175.5
EBITDA (adjusted)(1)
519.1
1,057.5
Operating Earnings (EBIT I)(2)
229.3
781.6
Adjusted Free cash flow(3)(6)(7)
-776.8
-635.9
As of 31 December 2016
As of 31 December 2015
Equity
4,552.2
4,295.6
Total assets
9,645.5
8,273.6
Net debt(4)(6)(7)
3,583.8
2,399.8
Net debt/EBITDA (adjusted)(5)(6)(7)
6.9
2.3
(1) "EBITDA (adjusted)" is defined as follows: Operating Earnings (EBIT I) plus write-downs/ less write-ups
on intangible assets, property, plant and equipment and financial assets. EBITDA (adjusted) is not defined
by IFRS. K+S Group is presenting this figure on the basis that investors may find it helpful as a measure of
K+S Group's performance. Potential investors should take into consideration that this figure is not applied
in a consistent manner or standardized, that its calculation can vary and that this figure by itself is not a
basis to compare different companies. Furthermore it does not substitute the financial key figures of the
income statement and the cash flow statement that were recognized in accordance with IFRS.
(2) "Operating Earnings (EBIT I)" is defined as follows: Result after operating hedges (EBIT II) less income /
plus expenses from market value changes of operating forecast hedges still outstanding minus
neutralization of fluctuations in market value recorded in prior periods of realized operating forecast
hedges less realized income / plus expenses arising from hedging capital expenditure in Canada.
Operating Earnings (EBIT I) is not defined by IFRS. K+S Group is presenting this figure on the basis that
investors may find it helpful as a measure of K+S Group's performance. Potential investors should take
into consideration that this figure is not applied in a consistent manner or standardized, that its calculation
can vary and that this figure by itself is not a basis to compare different companies. Furthermore it does
not substitute the financial key figures of the income statement and the cash flow statement that were
recognized in accordance with IFRS.
(3) "Adjusted Free cash flow" is defined as follows: Proceeds from disposals of fixed assets less
disbursements for intangible assets less disbursements for fixed assets less disbursements for financial
assets plus cash flow from operating activities. Adjusted Free cash flow is not defined by IFRS. K+S Group
is presenting this figure on the basis that investors may find it helpful as a measure of K+S Group's
performance. Potential investors should take into consideration that this figure is not applied in a
consistent manner or standardized, that its calculation can vary and that this figure by itself is not a basis
to compare different companies. Furthermore it does not substitute the financial key figures of the cash
flow statement that were recognized in accordance with IFRS. The table below shows the reconciliation for
Adjusted Free cash flow.
(4) "Net debt" is defined as follows: Cash on hand and balances with banks plus non-current securities and
other financial investments plus current securities and other financial investments less non-current
financial liabilities less current financial liabilities less liabilities from finance leases plus non-current
reimbursement claim (Morton Salt bond) less non-current provisions for pensions and similar obligations
less non-current provisions for mining-obligations. Net debt is not defined by IFRS. K+S Group is
presenting this figure on the basis that investors may find it helpful as a measure of K+S Group's
8

performance. Potential investors should take into consideration that this figure is not applied in a
consistent manner or standardized, that its calculation can vary and that this figure by itself is not a basis
to compare different companies. Furthermore it does not substitute the financial key figures of the balance
sheet that were recognized in accordance with IFRS.
(5)
Net debt/EBITDA (adjusted) is not defined by IFRS. K+S Group is presenting this figure on the basis that
investors may find it helpful as a measure of K+S Group's performance. Potential investors should take
into consideration that this figure is not applied in a consistent manner or standardized, that its calculation
can vary and that this figure by itself is not a basis to compare different companies. Furthermore it does
not substitute the financial key figures of the balance sheet, income statement and the cash flow statement
that were recognized in accordance with IFRS.
(6) Unaudited.
(7) Not extracted from financial statements.
Material
There has been no material adverse change in the prospects of the
adverse
Issuer since 31 December 2016.
change in the
prospects of
the Issuer
Significant
Not applicable: There have been no significant changes in the financial
change in the
or trading position of the Issuer since 31 December 2016.
financial or
trading
position
B.13
Recent Events
On 23 December 2016, the Kassel Regional Council
(Regierungspräsidium Kassel) approved the continued deep-well
injection of saline waste water resulting from the potash production at
the Werra plant. The permission is valid until 31 December 2021 and
allows for an annual volume of 1.5 million cubic meters of waste water,
limited to 5,000 cubic meters per day to be injected. The permission is
subject to various ancillary provisions. Irrespective of the deep-well
injection permission, discharging saline waste water into the Werra
river remains subject to prevailing weather conditions. During periods
of low water levels, such as in the beginning of 2017, production at full
capacity (or at all) at the Werra plant will remain challenging.
Other than this, there are no relevant recent events particular to
K+S AG, which are to a material extent relevant to the solvency of
K+S AG.
B.14
Statement on Please refer to Element B.5 above.
dependency
Not applicable. The Issuer is the parent company of the K+S Group. It
upon other is not dependent upon other entities within K+S Group.
entities within
the Group
B.15
Principal
K+S AG and its subsidiaries are worldwide suppliers of specialised
activities
and standard fertilizers and salt products.
Potash and Magnesium Products
The Potash and Magnesium Products business unit extracts potash
and magnesium crude salts at six mines in Germany and refines them.
The annual production capacity of the business unit is currently around
7 million tonnes of potash and magnesium products. Following the
commissioning of an advanced greenfield project for the construction
9

of a solution mine (the "Legacy Project"), which is estimated to take
place in the second quarter of 2017, the business unit is expected to
be able to increase its annual production capacity by at least 2.86
million tonnes in the medium term. K+S Group offers its customers
special plant nutrients, products for industrial applications, high-purity
potassium and magnesium salts for the pharmaceutical, cosmetics
and foodstuffs industries as well as primary products for the production
of animal feed. A broad distribution network is designed to facilitate the
sale of these products across the world and to ensure a continuous
supply of K+S Group's customers. The Inactive Plants unit also
assigned to this business unit oversees the potash and rock salt mines
in Germany, whose production has been discontinued.
Salt
In the Salt business unit, the K+S Group markets food grade salt,
industrial salt, salt for chemical use and de-icing salt. With an annual
production capacity of about 32 million tonnes of salt, K+S Group is
the world's largest producer of salt products (source: Roskill
Information Services, Salt: Global Industry Markets and Outlook, 15th
ed. 2016). The Salt business unit is represented in Europe as well as
North America and South America with its own distribution units and
more than 30 assets. Furthermore, the business unit exports salt
products to Asia and other regions of the world. The business unit
comprises the sub-units esco european salt company GmbH & Co.
KG ("esco"), whose activities are mainly focused on Europe, K+S
Chile S.A. ("K+S Chile") with activities in South America, K+S Windsor
Salt Ltd. and Morton Salt Inc., one of the largest salt producers in
North America. Esco operates three rock salt mines, two brine plants
and several evaporated salt plants in Germany, France, the
Netherlands, Portugal, Spain, one salt processing company in the
Czech Republic and has numerous distribution sites in Europe. K+S
Chile extracts rock salt in Salar Grande de Tarapacá through open-
cast mining. Furthermore, the Chilean shipping company Empremar
S.A. is also part of the Salt business unit. With a fleet of two own and
additional chartered ships it provides maritime logistics for K+S Chile.
K+S Windsor Salt Ltd. and Morton Salt Inc. operate six rock salt
mines, nine plants processing evaporated salt, three solar salt plants
and four salt processing sites in the United States, in Canada and in
the Bahamas.
Complementary Activities
In addition to disposal activities for the underground disposal and the
reutilisation of waste in potash and rock salt mines (waste
management and recycling) as well as the granulation of the animal
hygiene product CATSAN®, the business unit "Complementary
Activities" bundles further activities of importance to the K+S Group.
With K+S Transport GmbH, K+S Group possesses its own logistics
service provider. The product range of Chemische Fabrik Kalk GmbH
comprises a selection of basic chemicals and its trading business.
10