The management boards of Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn have signed agreements with Trade Union Organizations to suspend selected cost-intensive provisions of their Collective Bargaining Agreements (ZUZP). This marks another step in the cost restructuring process that has been underway since spring this year, in response to the financial difficulties Grupa Azoty has faced since the second half of 2022.

Following successful negotiations with the banks, Grupa Azoty Polyolefins signed an Amendment Agreement on August 6 to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. The parties have agreed on the conditions under which the Financial Institutions will provide financing for the project during the next period of the Stabilization Agreement, which extends until August 30, 2024. The Amendment Agreement was signed with 15 Financial Institutions.

Grupa Azoty Polyolefins S.A. has signed bilateral protocols of Conditional Provisional Acceptance with Hyundai Engineering Co., Ltd., the General Contractor for Polimery Police, for the Polypropylene Installation subproject and the H&ST Transshipment and Storage Terminal subproject. The Conditional Provisional Acceptance procedure has been introduced to expedite the transfer of the Polimery Police project from the General Contractor to commercial operations.

Grupa Azoty S.A. has signed an Amendment to the Agreement dated February 2, 2024, with subsequent modifications, on behalf of itself and selected companies within the Grupa Azoty Capital Group. The duration of the Agreement has been extended to October 11, 2024. Simultaneously, Grupa Azoty is consistently implementing remedial actions such as optimizing sales and production projects, achieving business synergies across the Capital Group, and introducing internal savings. The Management Board is also preparing to make decisions in the coming weeks regarding the divestment of non-essential assets and the closure of long-term unprofitable installations. Additionally, intensive discussions are ongoing with Trade Unions to agree on suspending the most costly elements of the Collective Labor Agreement (ZUZP).

On July 29, Grupa Azoty S.A. received a notification on behalf of Radosław Kwaśnicki regarding the loss of control over the shares of Grupa Azoty S.A. held by entities associated with Vyacheslav Kantor. This development marks the end of the temporary management established on July 11, 2023. Crucially, this follows the publication in the Official Journal of the European Union about the sanctions imposed on Vyacheslav Kantor on April 8, 2022, and the national sanctions imposed on April 25, 2022, affecting Vyacheslav Kantor and his associated entities: Norica Holding S.a.r.l. (Luxembourg), Opansa Enterprises Limited (Cyprus), and Rainbee Holdings Limited (Cyprus), which collectively hold 19.82% of Grupa Azoty S.A.'s shares. The sanctions include the freezing of financial assets, including the shares of Grupa Azoty S.A. owned by Kantor's associated entities. 

Grupa Azoty is expanding its product line in the field of ammonium nitrate, a primary nitrogen fertilizer. Initially, production of the fertilizer with a 33.5% nitrogen content, previously the flagship product of Grupa Azoty ZAK, will also begin at Grupa Azoty Puławy. The next step involves rebranding the product from ZAKsan 33.5 to megAN 33.5. This move accelerates the integration of production, sales, and marketing activities in the Agro segment across the entire Grupa Azoty Capital Group.