07 March 2005 16:13 [Source: ICIS news]
BUCHAREST (CNI)--Romanian fertiliser producer Amonil Slobozia is to cut 700 jobs – some 80% of its work force - because of a planned 25% hike in natural gas feedstock prices in April, CNI learned Monday.
Octavian Ciobanu, trade union leader at Amoni, said: “A decision concerning collective workforce dismissal is almost inevitable due to planned natural gas price increases starting next month. We are very worried for the future of the plant."
Under pressure from the International Monetary Fund (IMF), Romania is to allow a 25% increase in gas tariffs to bring prices closer to European Union (EU) levels.
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