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Grupa Azoty Kędzierzyn files criminal complaint regarding research projects

Grupa Azoty Kędzierzyn has submitted a criminal complaint alleging misconduct related to research and development projects outsourced to external entities in 2021–2022. The complaint claims that the company received information during the projects’ execution that the activities were futile, yet expenses continued to be incurred. According to the filing, the estimated financial loss to Grupa Azoty Kędzierzyn from these projects is approximately PLN 10.7 million.

25.10.2024
Grupa Azoty publishes preliminary Q3 2024 financial results

In Q3 2024, Grupa Azoty generated consolidated sales revenue of PLN 3.085 billion and an EBITDA result of minus PLN 120 million, with an EBITDA margin of minus 3.9%, reflecting an improvement of approximately PLN 228 million compared to the same period in 2023. The net loss for the quarter decreased year-over-year by PLN 517 million, amounting to PLN 226 million, compared to a loss of PLN 743 million in Q3 2023.

25.10.2024
Polimery Police: Grupa Azoty Polyolefins continues to ramp up polypropylene production – reaching 200,000 tons

As of October 23, 2024, Grupa Azoty Polyolefins has produced a total of 200,000 tons of polypropylene. This production milestone was achieved during the testing phase to validate guaranteed parameters at the Polimery Police facility. Polypropylene produced at the newly constructed installations of the Polimery Police Project is available for both direct sales and distribution. Following the conditional interim acceptance of the PP installation and the Terminal Unloading and Storage subproject in July, the Company has full control over its production portfolio, which is being continuously adapted to market conditions.

23.10.2024
Changes to the management board of Grupa Azoty Polyolefins

The Supervisory Board of Grupa Azoty Polyolefins has passed a resolution to remove Wojciech Blew, Acting President of the Company, from the Management Board, effective October 20. The Supervisory Board also resolved to delegate Krzysztof Kołodziejczyk, a Member of the Supervisory Board of Grupa Azoty Polyolefins and Vice President of the Management Board of Grupa Azoty S.A., to temporarily perform the duties of President of the Management Board of Grupa Azoty Polyolefins. This delegation will last until a candidate is selected through the qualification process, but no longer than three months from the resolution's effective date, October 21.

21.10.2024
Management board of Grupa Azoty Puławy signs agreement with trade unions to suspend cost-intensive provisions of the Collective Labor Agreement

After negotiations that began in early July, the Management Board of Grupa Azoty Puławy has signed an agreement with workplace trade unions to suspend selected cost-intensive provisions of the Collective Labor Agreement (ZUZP). Similar agreements were concluded earlier this year with Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn in late August. As a result, cost-intensive provisions of the ZUZP have now been suspended in the four key companies of the Grupa Azoty Capital Group, in line with the corrective measures outlined by the Management Board of Grupa Azoty.

18.10.2024
Grupa Azoty Police submits criminal complaint regarding withdrawal from Senegal investment

Grupa Azoty Police has filed a criminal complaint with the Szczecin Regional Prosecutor’s Office concerning the circumstances surrounding its 2018 decision to withdraw from an investment in Senegal. The complaint alleges potential misconduct involving the unjustified and inappropriate transfer of registered shares in African Investment Group SA, valued at 6.6 million FCFA, to DGG Eco sp. z o.o. in 2018. In return, Grupa Azoty Police did not receive the agreed payment of PLN 180 million specified in the agreement with DGG Eco sp. z o.o., resulting in damages estimated at no less than PLN 180 million.

17.10.2024
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