30 April 2012 17:44 [Source: ICIS news]
LONDON (ICIS)--Croatia’s Petrokemija fell to a net loss of kuna (HRK) 2.18m ($0.39m) in the first quarter of 2012 compared with a net profit of HRK39.5m a year ago, with sales hit by delayed shipments after the severe cold snap that hit Europe in February, the fertilizer producer said on Monday.
Production during the first quarter was 6.7% lower than planned because of a January overhaul and lower sales caused by the shipping difficulties, added Petrokemija, without publishing a sales revenue figure for the period.
The Croatian state has been gauging interest for a possible sale of its controlling 50.63% stake in the mineral fertilizer producer, which returned to profit in 2011 following annual net losses in 2010 and 2009.
The move has, however, encountered stiff opposition from unions at the company.
Petrokemija has an overall solid and liquid fertilizer capacity of 1.5m tonnes/year and is based in Kutina, central Croatia. It has 2,300 employees.
The company exports to Italy, Slovenia, Germany, Spain, China and the US.
($1 = HRK5.65)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections