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(2008-12-01 08:00)
Yara with permanent NPK closure in Kedainiai and temporary NPK stop in RavennaOslo (2008-12-01): Yara International ASA will permanently close its NPK plant in Kedainiai, Lithuania. NPK production at Yara's site in Ravenna, Italy will be temporarily stopped by mid December. The Kedainiai plant has an annual production capacity of 250,000 tons NPK. It is an old sub-scale landlocked plant that became a Yara plant with the acquisition of Kemira GrowHow last year. The plant produces low-nitrogen NPK, PK and P fertilizer based on purchased nutrients. The plant has no competitive market advantage, lacks access to competitively priced raw materials and would need significant investments to bring it up to Yara efficiency and quality standards. The plant has 128 employees.
The Ravenna plant has an annual production capacity of 300,000 tons NPK. The decision to stop production temporarily is related to the current slow-down in NPK deliveries. The timing of a re-start will depend on market developments.
Yara will continue to fulfil customer contracts from built-up stock and alternative product sourcing, demonstrating Yara's flexible business model.
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mail torgeir.kvidal@yara.com
Bente Slaatten, Media Relations
Cellular (+47) 91 60 62 15
E-mail bente.slaatten@yara.com
Yara International ASA is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of more than 8,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry. www.yara.com
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