German minerals firm K+S to keep its Morton Salt brand in strategic review
Frankfurt — German minerals miner K+S, owner of the Morton Salt brand, will rule out a separate listing of its salt activities when it unveils the results of a strategic review on Monday, a person familiar with the company’s thinking said. CEO Burkhard Lohr has continued a company review started by his predecessor, Norbert Steiner, who stepped down in May, and is looking at ways to boost the value of its salt unit. "There won’t be a salt initial public offering. It doesn’t make any strategic sense and it doesn’t pay off," the source said on Wednesday, requesting anonymity ahead of the official announcement. Instead of focusing on one large step, Lohr will present a wide range of measures under a programme dubbed "Shaping 2030" on Monday, two people close to the matter told Reuters. The company declined to comment. K+S, the world’s largest salt producer and the fifth-largest seller of potash, is grappling with a slow recovery in potash prices and output restrictions at its German min...
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