Chemical fertilisers producer Amonil Slobozia (AMO) risks to lose its business and employees, as well, after having lost its main assets last year.
The company management announced on Monday that a significant number of employees had terminated their labour contracts and would become employed at Chemgas Holding. Although the number of employees set to leave was not specified, Amonil says the activity could be affected. The company had around 800 employees in the first half of the year. In addition, the contract to process methane gas, sealed with the Interagro group of businessman Ioan Niculae, expires at the end of November, with Nicolae saying recently he will close all his facilities unless the Government extends the incentive of buying natural gas exclusively from the domestic output, which is cheaper, granted a year ago to Romanian producers in the chemical industry. The incentive expires at the end of October, with producers currently negotiating its extension with the Economy Ministry at least until the spring of next year.
"I will close all plants after October 31st, with the exception of the one in Slobozia, which I will keep open in November, because I have a contract with it, which I have to complete," Niculae threatened recently. Although he is talking about closing the plant, there is no formal connection between Niculae and Amonil any more, apart from the gas-processing contract. The Interagro group held 8% in Amonil starting in 2007, which it sold on the Stock Exchange at the end of 2008.
Chemical fertilisers producer Amonil Slobozia (AMO) risks to lose its business and employees, as well, after having lost its main assets last year.
The company management announced on Monday that a significant number of employees had terminated their labour contracts and would become employed at Chemgas Holding. Although the numbe
