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Article: Crisis at former MOL subsidiary Nitrogenmuvek after fertilizer import tariffs lifted.
- Article from:
- Hungary Business News
- Article date:
- February 17, 2003
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Crisis at former MOL subsidiary Nitrogenmuvek after fertilizer import tariffs lifted
Budapest. February 17. INTERFAX-EUROPE - The creditor banks of Nitrogenmuvek, Hungary's sole producer of ammonium nitrate fertilizer, are considering introducing "direct measures" after the import supplementary tariff on ammonium nitrate fertilizers was lifted suddenly last week, the daily Nepszabadsag reported. In case of a bankruptcy, 1500 jobs are endangered at Pet.
Nitrogenmuvek is threatened by imports from Ukraine and Romania, where its competitors pay only a fraction of the Hungarian price for natural gas - USD 160 per 1000 cubic meters. Gas is a main raw material ...