Yara shuts Italy ammonia, urea on weak market

24 October 2008 09:35  [Source: ICIS news]

LONDON (ICIS news)--Yara will temporarily stop production of urea and ammonia at its Ferrara site in Italy from 1 November due to current market conditions, the Norwegian fertilizer major said on Friday.

“The decision to stop production temporarily is related to the current situation in international urea markets, where lower activity and price levels have impacted profitability,” the company said in a statement.

The 600,000 tonne/year ammonia plant and 500,000 tonne/year urea facility will restart when market conditions improve, Yara added.

“Lay-offs are not anticipated, as employees will attend to plant safety and other tasks within the group,” it said.

The company said it would continue to fulfil customer contracts from built-up stock and alternative product sourcing.

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By: Hilde Ovrebekk
+44 20 8652 3214

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