Chemical fertilisers producer Amonil Slobozia (AMO) risks tolose its business and employees, as well, after having lost itsmain assets last year.
The company management announced on Monday that a significantnumber of employees had terminated their labour contracts and wouldbecome employed at Chemgas Holding. Although the number ofemployees set to leave was not specified, Amonil says the activitycould be affected. The company had around 800 employees in thefirst half of the year. In addition, the contract to processmethane gas, sealed with the Interagro group of businessman IoanNiculae, expires at the end of November, with Nicolae sayingrecently he will close all his facilities unless the Governmentextends the incentive of buying natural gas exclusively from thedomestic output, which is cheaper, granted a year ago to Romanianproducers in the chemical industry. The incentive expires at theend of October, with producers currently negotiating its extensionwith the Economy Ministry at least until the spring of nextyear.
"I will close all plants after October 31st, with the exception ofthe one in Slobozia, which I will keep open in November, because Ihave a contract with it, which I have to complete," Niculaethreatened recently. Although he is talking about closing theplant, there is no formal connection between Niculae and Amonil anymore, apart from the gas-processing contract. The Interagro groupheld 8% in Amonil starting in 2007, which it sold on the StockExchange at the end of 2008.
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