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Grupa Azoty Polyolefins and Financial Institutions Extend Financing Terms for Polimery Police Project
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.
07.08.2024
Grupa Azoty Polyolefins S.A. Completes Conditional Provisional Acceptance for PP Installation Subproject and Transshipment and Storage Terminal Subproject
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.
31.07.2024
Notification of Termination of Temporary Management
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. This freeze has restricted all corporate and property rights of these entities as shareholders since April 25, 2022. Importantly, the termination of temporary management does not affect Grupa Azoty's operations or its relationships with trade partners in various countries.
30.07.2024
Grupa Azoty adapts fertilizer portfolio to market demands
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.
29.07.2024
Grupa Azoty Concludes the "We Care for Polish Soil" Lottery
The 7th edition of the "We Care for Polish Soil" lottery, held under the slogan "The Best for the Best," has concluded. Anyone who made a single purchase of Grupa Azoty fertilizers worth at least PLN 1,000 gross between February 1 and April 30 was eligible to participate. This year's grand prize, a John Deere 5090M tractor, was awarded to Mr. Adam from the Lublin province, who purchased Pulan fertilizer for almost PLN 2,000 gross on the winning receipt.
23.07.2024
Grupa Azoty Puławy Halts Melamine Production
The Management Board of Grupa Azoty Puławy has decided to temporarily halt melamine production. The biggest challenge at the moment are the costs associated with the primary raw material—natural gas—and energy prices related to emissions that non-EU producers do not bear. Grupa Azoty Puławy has secured an operational stock of melamine. Production will resume when an acceptable market price for melamine relative to production costs is achievable.
04.07.2024
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