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Closing completed: K+S Closes the Acquisition of Morton Salt

Kassel (euro adhoc) -

K+S Aktiengesellschaft / Closing completed: K+S Closes the 
Acquisition of Morton Salt
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Mergers - Acquisitions - Takeovers
Utl.: K+S Aktiengesellschaft / Closing completed: K+S Closes the 
Acquisition of Morton Salt =
Kassel, 1 October 2009
Closing completed
K+S Closes the Acquisition of Morton Salt
. Excellent growth opportunity in the global salt business
    . K+S becomes the world's leading salt producer
    . With Morton Salt, K+S acquires the best-known US consumer  brand  in  the
      food grade salt sector
    . Access to new and less volatile de-icing salt regions
    . Acquisition strengthens the entire K+S Group in Europe and overseas
    . Positive impact on earnings per share from 2010
K+S  successfully  completed  the  acquisition  of  Morton  International,  Inc.
(Morton Salt), one of the leading producers  of  consumer,  
industrial  and  de- icing salts in North  America.  The  closing  
agreement  with  the  seller,  Dow Chemical, was signed in New York 
today. The  company  is  valued  at  USD  1.675 billion;  less  the  
debts  and  customary   closing   adjustments   established 
provisionally, which results in a net cash payment of USD 1.576 
billion.
Major milestone in the K+S growth strategy The acquisition of Morton 
Salt is a  further  milestone  in  the  K+S  strategy, which is 
geared towards both organic growth as well as  expansion  by  means  
of acquisitions and cooperation. "Morton Salt offers us an 
outstanding  opportunity to considerably expand the K+S global salt 
business within the framework of  our growth strategy," says Norbert 
Steiner,  Chairman  of  the  Board  of  Executive Directors of K+S 
Aktiengesellschaft.  "Morton  Salt  is  a  widely  well  known, 
highly respected and very profitable company with an excellent market
position. Together with Morton, we want to be our customers  first  
choice  for  salt.  We share a passion for and commitment to the salt
business, and we  have  a  common understanding of how we can 
increase  value  for  our  customers,  partners  and shareholders."
Bundling the strengths of K+S and Morton K+S and Morton Salt 
complement each  other  ideally  because  of  the  different regional
positioning and the low degree of overlap in operating business.  
"Both companies have a long tradition in the salt business in common.
The  conditions are  optimal  for  smooth  integration  and  
successful  cooperation  with   our colleagues from Morton Salt.  We 
look  forward  to  our  common  future,"  says Steiner.
For 2008, Morton  Salt  reported  revenues  of  USD  1.2  billion.  
The  company operates six rock salt mines as well as seven  solar  
and  ten  evaporated  salt plants in North America. Its annual 
production capacity amounts  to  just  under 13 million tonnes. 
Morton Salt was established  in  1848,  employs  about  2,900 people 
and has its registered office in Chicago. Together with Morton Salt, 
the future annual production capacity of  the  K+S  salt  business  
will  amount  to almost 30 million tonnes, thus making K+S the 
leading supplier worldwide.
Positive contribution to earnings expected from 2010 As was already 
announced in April,  K+S  expects  that  in  the  current  fourth 
quarter,  the  first-time  inclusion  of  Morton   Salt's   operating
earnings contribution should exceed the integration costs.  
Non-recurrent  financing  and tax outlays will, however, depress net 
earnings slightly.
From 2010 onwards, a markedly positive impact  on  earnings  per  
share  can  be expected.
Experience growth The K+S Group is  one  of  the  world's  leading  
suppliers  of  speciality  and standard fertilizers, plant care as 
well as salt  products.  With  its  products and brands, K+S offers 
its customers a range of needs-based goods  and  services which 
provides growth opportunities in virtually every  sphere  of  daily  
life. The K+S Group currently employs  about  15,000  people  
worldwide  and  achieved revenues of just under EUR 5.0 billion in 
2008. K+S is quoted on all German stock exchanges (ISIN: 
DE0007162000, symbol: SDF) and listed on the DAX® share index.
Your contact persons:
Press:
Michael Wudonig
phone: +49 561 9301-1262
fax: +49 561 9301-1666 
michael.wudonig@k-plus-s.com
Investor Relations:
Christian Herrmann
phone: +49 561 9301-1460
fax: +49 561 9301-2425 
christian.herrmann@k-plus-s.com

Further inquiry note:

Michael Wudonig
phone: +49 561 9301-1262
fax: +49 561 9301-1666
michael.wudonig@k-plus-s.com

Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: DAX, Midcap Market Index, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing
Hamburg / regulated dealing
Stuttgart / regulated dealing
Düsseldorf / regulated dealing
Hannover / regulated dealing
München / regulated dealing

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