Poland's ZChP in Zl 360m ammonia deal with parent company ZAT

06 August 2012 16:22  [Source: ICIS news]

LONDON (ICIS)--Zaklady Chemiczne Police (ZChP) has struck a deal to sell liquid ammonia worth approximately zlotych (Zl) 360m ($109.8m, €88.7m) to its parent company, fellow Polish fertilizer producer Zaklady Azoty Tarnow (ZAT), ZChP said on Monday.

The contractual deliveries of the liquid ammonia would take place from August 2012 to December 2014, it added.

ZChP, based in Police, northwest Poland, regained the capacity to produce 500,000 tonnes/year of ammonia after reopening in September last year a 250,000 tonnes/year plant that had been mothballed for two years because of lower demand triggered by the economic crisis.

ZAT, located in Tarnow, south Poland, prioritised restarting the ammonia plant after acquiring 66% of fellow state-controlled firm ZChP in 2011.

Ammonia supplies from ZChP would replace more expensive supplies from Polish, Ukrainian and Russian sellers, ZAT said.

ZAT specialises in nitrogen fertilizers, while ZChP concentrates on multi-component fertilizers.

($1 = Zl 3.28, €1 = Zl 4.06)

By: Will Conroy
+44 20 8652 3214

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