23 January 2009 12:29 [Source: ICIS news]
PRAGUE (ICIS news)--Zaklady Azotowe Pulawy (ZAP), Poland's largest fertilizer producer, has raised the production rate at its installations to 80% in anticipation of the spring farming season, the company said on Friday.
The rate had been at 70% as a result of the economic downturn and gas supply restrictions - which were lifted last week - imposed during the Russia-Ukraine dispute.
Wood & Company investment bank forecast that ZAP would operate its units at 90% capacity on average across this year.
Meanwhile, Polish state-owned mining group Kompania Weglowa said it would hold off on plans to dispose of its 9.9% stake in ZAP, which also produces caprolactam and melamine, because of low prices on the Warsaw Stock Exchange.
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