Romania's Interagro halts fertilizer production

18 April 2007 10:42  [Source: ICIS news]

BUCHAREST (ICIS news)--Romanian fertilizers company InterAgro on Wednesday said it was temporarily ceasing production at its Turnu and Viromet fertiliser plants because of the high amount of debt it owes to gas suppliers.

"We have asked our gas suppliers to stop deliveries because we want first to pay our debts by selling the products already on stock. We hope to restart production by early May," said Interagro director Ioan Niculae.

 

Interagro owes gas supplier Romgaz €27m ($37m).

 

Set up in 1994, InterAgro owns fertilizer manufacturers Turnu, Viromet Victoria and Sofert and through its subsidiary, Donau Chem, recently acquired fertilizer producer Nitrofertilizer SA.

 

($1 = €0.74) 

By: Marian Chiriac
+44 20 8652 3214

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