Azomures, net profit worth 132 million lei

Commercial manager of the chemical fertilizers maker AZOMURES stock company in Targu Mures (central Romania), Mihai Ogrean said on September 15 in a news conference that in H1, 2008, the company reported net profit worth over 132 million lei.
The value of revenues reported by the sales from the external market grew 62.67% compared to the same period of the previous year and the volume of sales on the external market saw a rise of 8.37% in H1 2008 as against the same period of the previous year. This represents 81.18% of the total of sales made by the company,’’ said Ogrean.
Ogrean said that the distribution of production on the internal market is made in a ratio of 94% through a network that practically covers the entire Romanian territory and ensures a storage capacity of almost 150,000 tonnes of chemical fertilizers, uniformly distributed in big centres of consumers in Romania.
President of Targu Mures-based Azomures Administration Council, Fuat Kalgay, said that the company reported profit every year after privatisation and that its is the only company from the chemical industry which does now have debts to the state.
‘’10 years ago, at the moment of privatisation, Azomures was a company that faced bankruptcy, the production had been halted, salaries were low, part of the workers were laid off and debts to the state were of 18 million dollars. The debts were paid in short time and so far we have made investments worth 100 million dollars, of which some $36 million in the protection of environment,’’ said Fuat Kalgay.
President of the Azomures Administration Council said that through the investments that will be made in Azomures, the company aims to become successful at world level.
Fuat Kalgay also announced that the company is preparing two investment programmes totally worth some 300 million dollars.
The 2 projects aim to shrink the company’s consumption of electricity and the impact of rise in the natural gas price. The first project might be operational in one year and a half.
According to Fuat Kalgay, Azomures, plans to build its own co-generation power plant, with a maximal efficiency and extremely profitable and to upgrade the installations of urea and ammoniac, for the reduction of specific consumption of natural gas, but also with a view to releasing new products on the market.

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