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43-445: General Director of the company Dmitry Konyaev (owns 4% of shares), Chairman of the Board of Directors Dmitry Tatyanin (48% of shares). Dmitry Mazepin stepped down from management and retained 48% of the company's shares. Uralchem was founded in 2007 by businessman Dmitry Mazepin , who was the majority shareholder of the enterprise until 2022, when he reduced his share to 48%. According to

86-762: A MOU on gas processing with Sibneft in 2003. In 2004, Mazepin created his own company in the sector after leaving Sibur. Constructive Bureau, a company controlled by Mazepin, acquired a majority stake in Kirovo-Chepetsk Chemicals Plant in a public auction, outbidding Gazprom. Mazepin became chairman of the board of the plant in 2005. Constructive Bureau later also acquired stakes in Perm-based joint-stock companies Halogen and Minudobrenia, Berezniki Azot and Volgograd-based Khimprom (transferred to Renova in 2006). In 2007, all assets under Mazepin's control were combined to form Uralchem United Chemicals Company,

129-584: A Swiss trading company owned by Ameropa Holding AG and a main Togliattiazot shareholder, at below market prices . The owner of Ameropa AG, Andreas Zivy , is one of the controlling shareholders of Togliattiazot, along with the Makhlai Family. Nitrochem Distribution then resold the products to independent buyers at market prices. Through the scheme, minority shareholders like Uralchem sustained losses of $ 550 million, according to Forbes . Investigations by

172-647: A urea plant.  In December 2021 Dmitry Mazepin rewrote his Cyprus -based companies Uralchem Holding and CI-Chemical Invest, controlling “Uralchem”, to Russian jurisdiction at special administrative district on Oktyabrsky Island of Kaliningrad Oblast . In March 2022, Dmitry Mazepin entered into an agreement to sell the Cyprus company Uralchem   Freight Limited (UFL), which owns shares in two Latvian companies operating ports in Riga and Ventspils - SIA Riga Fertilization Terminal (RFT) and SIA Ventamoniaks (VA). The buyer

215-635: A $ 4.5 billion loan from VTB . A month before, Mikhail Prokhorov had also bought a 21.75% stake in the company from Suleiman Kerimov . Mazepin took operating control over the company at that time, winning a seat on Uralkali Board of Directors in March. Since 2014, he has also been the deputy chairman of the Board of Directors of Uralkali. As part of a business development strategy, Mazepin has sought to introduce both companies to African markets. Both Uralchem and Uralkali have been in talks with several African countries to increase production and build new plants on

258-545: A Canadian consortium led by Lawrence Stroll , Mazepin openly criticized the bidding process having allegedly never been contacted by the administrators over his bid. On 24 February 2022, Mazepin attended a general meeting of representatives of Russian business and President Vladimir Putin . On March 11, 2022, Dmitry Mazepin sold a controlling stake in Uralchem and stepped down as its chief executive officer. Mazepin and his son Haas F1 racing driver Nikita Mazepin were added to

301-615: A consequence. Although Sergey and Vladimir Makhlai denied these accusations, they were in July 2019 sentenced in absentia to prison terms, along with their collaborators, Togliattiazot's former CEO Evgeny Korolev and their Swiss partners Andreas Zivy and Beat Ruprecht. The court also sentenced them to pay a compensation of 10 billion rubles to Uralchem and 77 billion rubles to Togliattiazot. A 2014 news story published in Russian daily Izvestia claimed that Mazepin planned to acquire Odesa Port Plant,

344-579: A controlling stake in Latvia's liquid ammonia transshipment terminal SIA Ventamonjaks. The firm has also sought to increase its presence in African markets in recent years, particularly Zimbabwe , where Uralchem is hoping to acquire a minimum 50 percent stake in Chemplex, the state phosphorus fertilizer producer. Uralchem has also announced the beginning of cooperation Zambia and Angola , where it plans to build

387-609: A major Ukrainian chemical asset. Mazepin has denied that he or Uralchem harbor any interest in the asset. Uralkali made a buyback offer for 14% of its stock in May 2015. Market observers speculated at the time that the buyback would make it easier for Mazepin to merge Uralkali and Uralchem, which would make Mazepin the largest shareholder. Mazepin and Uralkali made a bid for the Force India Formula One team following its fall into administration in July 2018. Having lost out to

430-542: A public joint-stock company and Mazepin became the chairman of the Board of Director of Uralchem. In June 2008, Mazepin acquired a 75.01% stake in Voskresensk Mineral Fertilizers , increasing this stake to 100% in 2011. In the same year, he combined the production facilities of Kirov-Chepetsk Plant and Perm Halogen into Halopolymer , a public joint-stock company. He resigned from the Board of Directors of Halopolymer in 2015. The main production assets of

473-723: A turner’s apprentice in his native town Gubakha, moving up to assistant machinist at Gubakhin Chemical Plant in 1961. He studied for an undergraduate degree in Chemistry and Technology at Perm Polytechnic Institute from 1961 to 1965. He moved up through the ranks at Gubakhin Chemical Plant between 1966 and 1973, working, in succession, as a machinist, foreman, mechanic, deputy head of production facility, head of compression facility, head of air separation facility. Makhlai became Deputy Director for capital asset construction in 1973. He became Chief Executive of Gubakhin Chemical Plant in 1974. He

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516-402: Is a main article – The Togliattiazot affair . Since taking a minority stake in Togliattiazot, Uralchem has criticized Togliattiazot for a lack of transparency relating to its activities on multiple occasions. Uralchem argues that its management has been repeatedly refused access to Togliattiazot's major shareholders and management to important documents such as protocols and internal orders of

559-525: Is a racing driver who was competing in Formula One for the Haas F1 Team on a multi-year deal until his contract was cancelled after Russia's invasion of Ukraine. Vladimir Makhlai Vladimir Nikolayevich Makhlai ( Russian : Владимир Николаевич Махлай ; born June 9, 1937) is a Russian businessperson. He is the core shareholder in the world’s largest ammonia producer TogliattiAzot , and managed

602-598: Is buying cars for large low-income families in the Kirov region. Through Uralchem, Mazepin is involved in several charitable activities, including social programs for children and veterans , regional development initiatives, education and science programs, activities for promoting culture and sports. Dmitry Mazepin is on the board of the All Russian Swimming Federation  [ ru ] . Mazepin holds several business related international memberships. He

645-810: Is member of the Bureau of the RSPP Board (The Russian Union of Industrialists and Entrepreneurs, RSPP) and Chairman of the Commission on Mineral Fertilizers Production and Trading of RSPP. He is also Chairman of the Russia-Zimbabwe Business Council (The Chamber of Commerce and Industry of the Russian Federation) as well as Chairman of the Russia-Belarus Business Council. Mazepin was accused of conflicts of interest during his stint at

688-405: Is starting deliveries to Mozambique. In March 2022, Dmitry Mazepin reduced his stake in Uralchem to 48%, which is below the controlling stake, and left the post of CEO of the company. Forbes listed Mazepin as one of the most charitable Russian billionaires in 2013. According to Forbes and Ria Novosti , Mazepin spent $ 700,000 on charitable causes in 2012, most of it on a project that

731-792: The European Union and the United Kingdom . Mazepin has been on the Forbes magazine list of Russia's 200 wealthiest businesspeople. In 2021, his wealth was estimated at $ 800 million. Dmitry Mazepin was born on April 18, 1968, in Minsk , graduating from the Suvorov Military Academy in Minsk in 1985. He then served as a military interpreter in Afghanistan between 1986 and 1988. He graduated from

774-560: The Komsomolsky District Court in Togliatti for a period of 8.5 to 9 years.  The court ordered them to pay damages to Togliattiazot in the amount of 77 billion rubles and to Uralchem in the amount of 10 billion rubles. In November 2021, at the initiative of Uralchem, an extraordinary meeting of shareholders was convened, following which the plant's management bodies came under the control of Uralchem: The Board of Directors

817-633: The MGIMO University 's Department of Economics in 1992 before going to work in the financial sector of Russia and Belarus and ultimately taking executive positions at major Russian private and government-owned companies Nizhnevartovskneftegaz and Sibur . He graduated from the Saint Petersburg Institute for Economics and Management in 2008 with a first-tier university degree in Organization Management. He earned his PhD from

860-624: The Russian Government Property Fund , as he was also on the board of several enterprises at the time, including Krasnoye Sormovo Shipyard and Kuzbassugol Coal Company, which he allegedly privileged in corporate disputes with competitors. As a result, nothing was proved and the accusations remained in the public field. In the mid-2000s, Dmitry Mazepin became embroiled in a conflict around Gazprom assets. The assets were divested by Nikolay Gornovsky, CEO of Gazprom subsidiary Mezhregiongaz , in late 2002, without permission or knowledge of

903-721: The European Union sanctions list following the Russian invasion of Ukraine . On March 15, 2022 the United Kingdom has followed the EU's lead and added Dmitry and Nikita Mazepin to the UK official sanctions list. In March 2024, the General Court of the European Union lifted sanctions against Nikita Mazepin, the court ruling stated that the "association" criterion used in the EU sanctions regime requires

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946-565: The Gazprom management. Part of these assets ended up in Mazepin's possession some time after that. In 2006, Gazprom was able to recover the assets, including an 18% equity stake in Azot Chemicals Company. Starting from 2007, Mazepin has been regularly accused of attempting to use "raider methods" to take over Togliattiazot (TOAZ), a public company where he has been consistently persecuting

989-458: The Russian authorities led to the freezing of assets and shares of Togliattiazot owned by the majority shareholders worth $ 2 billion. The court also prohibited Sergei Makhlai from holding senior positions at the company, after which he resigned from the board. In July 2019, Sergei and Vladimir Makhlai as well as Togliattiazot's former CEO Evgeny Korolev and their Swiss partners Andreas Zivy and Beat Ruprecht were sentenced to prison in absentia by

1032-401: The company in its various incarnations since 1985, as President and CEO for the final 15 years before retiring in May 2011 and stepping down to be replaced by his son, Sergei Makhlai . In July 2019, the Komsomolsky District Court of Togliatti found Vladimir Makhlai and hist son Sergei guilty of large-scale fraud and sentenced them to nine years in prison. He started his career in 1953 as

1075-853: The company include the Azot branch in Berezniki, the Perm Mineral Fertilizers branch in Perm, the Kirovo-Chepetsk Chemical Plant branch in Kirovo-Chepetsk, and Voskresensk Mineral Fertilizers in the Moscow region. in December 2013, Mazepin acquired a 20% stake in the world's largest potash producer, Uralkali , in a deal that was estimated to be worth $ 2.9 billion. The acquisition was financed with

1118-545: The company leadership has accused the Makhlai family of large-scale fraud involving selling its product, primarily ammonia and urea, to a foreign distributor at below market prices. According to Russian investigations, the scheme allegedly took place between 2008 and 2011 and involved Swiss-based Nitrochem Distribution AG, which bought the product at low prices before selling it on at market value. Investigators estimated that Uralchem had sustained up to $ 500 million worth of damage as

1161-595: The company stated that it had increased its financing of charitable projects by 34 percent to 710 million rubles ($ 11 million). Dmitry Mazepin Dmitry Arkadievich Mazepin ( Belarusian : Дзмітрый Мазепін ; Russian : Дмитрий Аркадьевич Мазепин ; born April 18, 1968, in Minsk , Byelorussian SSR , Soviet Union ) is a Belarusian- Russian oligarch businessman. He is the former owner and former CEO of Uralchem . As of March 2022, following Russia's invasion of Ukraine , Dmitry Mazepin has been sanctioned by

1204-534: The company website, Uralchem was established after the controlling stakes of chemical companies Kirovo-Chepetsk Chemical Works and Azot were combined to form a single enterprise. In 2008, Uralchem acquired a 71.1 percent stake in Voskresensk Mineral Fertilizers, followed by 100 percent stock acquisition in 2011. Equally in 2008, the company bought a 7.5 percent stake in chemical company Togliattiazot and increased its stake to just below 10 percent

1247-406: The company. Mazepin was tasked to return these assets under Gazprom's operational control, as well as stabilize the at the time deeply indebted business. The company underwent extensive technical audits to restart idle capacity and several issues relating to worker welfare, including pay arrears and housing conditions, were resolved. Mazepin also sought to diversify Sibur's revenue sources, signing

1290-482: The continent. In December 2018, Mazepin met with Kenya's President Uhuru Kenyatta to discuss new business deals as relations between Russia and Kenya are improving. Mazepin met with Zimbabwe 's President Emmerson Mnangagwa and Zambia ’s President Edgar Lungu , in 2018. Zimbabwe and Zambia are planned to become important hubs for fertilizer production as global demand is set to rise. Mazepin also met with Angola ’s president João Lourenço in March 2019 to discuss

1333-417: The executives. TOAZ CEO Sergey Makhlai accused Mazepin of making personal threats against himself. According to Makhlai, Mazepin threatened him with instigating a criminal investigation against him unless he agreed to Mazepin's terms for selling TOAZ to Mazepin. As of 2022, the accusations against Mazepin have not been proven. Since Uralchem became a minority shareholder of TOAZ with a 7.5% stake in 2008,

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1376-606: The existence of a connection that goes beyond simple family relations, which was not the case after Nikita Mazepin stopped participating in Formula 1 racing. Mazepin is a recipient of a Honorary Certificate from the Russian Government, and received the military's Medal "For Courage" (Russia) and Medal "For Service in Battle". Mazepin is divorced, and he is a father of two children - Nikita Mazepin and Anastasia Mazepina. Nikita

1419-475: The following year. It also obtained 44.3 percent of JSC Perm Mineral Fertilizers in 2009. In 2017, Uralchem increased its stake in Perm Mineral Fertilizers to 100 percent. In 2023, Uralchem completed the reorganization of Voskresensk Mineral Fertilizers JSC in the form of a merger with UCC Uralchem JSC. In April 2010, the company announced to float 40 percent of its shares on the London Stock Exchange in

1462-521: The hopes of raising up to $ 600 million in funds to be used for servicing debt incurred by the acquisitions. However, the IPO was put on hold in October that year, citing unfavorable market conditions and investors' nervousness "about external factors." The company three years later, in 2013, bought 20 percent of Uralkali , the biggest potash fertilizer producer in the world. Although no official transaction price

1505-449: The lists of affiliated persons as well as quarterly and annual reports. The Uralchem leadership has also accused Togliattiazot's majority shareholders Vladimir and Sergei Makhlai of engaging in large-scale fraud involving an export scheme for their ammonia and urea production. According to media reports, the Togliattiazot between 2008 and 2011 had sold its produce in the international markets primarily through Nitrochem Distribution AG,

1548-587: The possible construction of a urea plant in the country that would have a capacity of 1 million tonnes per year. During the Russia-Africa International Forum held in October 2019, Mazepin met with Emmerson Mnangagwa and Mozambique ’s President Filipe Jacinto Newsy. This was to reaffirm Uralchem's interest in investing in mineral fertilizer production in Zimbabwe, seeing that it is already supplying fertilizers to Zimbabwe, Zambia, Kenya and Angola, and

1591-513: The same school in 2012 after defending a thesis on developing a methodical approach to managing the stock market potential of an oil producing company. Mazepin was the CEO of Infistrakh, an insurance company, from 1992 to 1993. For two years afterwards he held the deputy branch manager position at Belarusbank , before holding several executive positions at Falkon Bank in 1995. His first major corporate assignment came in 1997 as well, with his appointment to

1634-551: The vice-president position of TNK, the Tymen Oil Company. The company had just acquired Nizhnevartovskneftegaz as a subsidiary and Mazepin was made its executive director in charge of making the firm profitable again. According to an interview in 2009, Mazepin ultimately succeeded in making Nizhnevartovskneftegaz loss-free. After that, Mazepin was the Deputy President of the Board of Flora Moscow Bank between 1998 and 1999,

1677-832: Was appointed Director General of Togliattiazot in April 1985. He has been living in London, since 2006. He is married, with two sons. The President’s position was abolished at Togliattiazot in May 2011. His son, Sergei Makhlai, was elected Chairman of TogliattiAzot in 2011. According to the Sunday Times Rich List in 2021, his net worth is £1 billion. Mahklai entered the UK on a golden visa . Makhlai graduated from Perm Polytechnic Institute in 1965. He graduated from Production Organizers’ Department at Ural Polytechnic Institute in 1975. He authored 35 inventions and research articles in his industry, as well as one monograph. Full Member of

1720-651: Was elected, which included five representatives of Uralchem and CEO Anatoly Shablinsky, who previously headed the enterprises that are part of Uralchem. During 2022-2023, Himaktivinvest (Uralchem structure) increased its stake in Tolyattiazot through auctions. As of February 2023, it owns 93.94% of the shares of Tolyattiazot together with its affiliates. The company is running several philanthropic and charitable programs and activities to promote social welfare , culture and education , including providing lab equipment to Perm Polytechnic and hosting concerts . To that end,

1763-500: Was ever disclosed, it is estimated that Uralchem paid $ 2.9 billion for the acquisition. In 2013 Uralchem and LLC Riga Commercial Port completed construction and opened a terminal at the Riga Port in Latvia for bulk fertilizers handling and short-term storage, called Riga Fertilizer Terminal. Uralchem became the controlling shareholder of the facility. A year later, the chemical firm acquired

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1806-493: Was the CEO of coal producer Kuzbassugol, and was then named First Deputy Chairman of the Russian Federal Property Fund in 2002  [ ru ] . Mazepin was the president of Sibur, a subsidiary of major gas producer Gazprom , in 2002 and held the position until 2003. He was invited to take up the position to replace Jacob Goldovsky , who was arrested for illegally removing assets belonging to Gazprom from

1849-621: Was the Swiss company Svizraa SA. The Latvian authorities refused to register the transaction, after which the contract for the sale of the company with Svizraa SA was terminated. According to company figures, Uralchem has annual production capacities of 3 million tons of ammonia and ammonium nitrate, 1.2 million tons of urea as well as 1 million tons of phosphate and complex fertilizers, accounting for 27.6 percent of ammonium nitrate, 16.9 percent of ammonia and 15 percent of urea production in Russia. There

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