: :inin Kyiv (EET)

Odesa Port-Side Chemical Plant posts loss of UAH 244 mln in H1


Ukraine`s chemical giant Odesa Port-Side Chemical Plant, whose 99.5% stake is to be offered for repeat sale in October 2016, posted UAH 243.9 million in net loss for the January-June 2016 period, according to the information disclosure system of Ukraine`s National Securities and the Stock Market Commission.
In the first half of 2015, the company was in the black with a net profit of UAH 152 million.
The plant`s net revenue from sales in the first half of 2016 shrank by 45.3% year-on-year to UAH 3.172 billion, from UAH 5.801 billion.
The enterprise`s gross profit for the period under review was UAH 194.9 million, down 81.5% year-on-year.
As UNIAN reported in mid-May 2016, the Ukrainian government approved the terms of privatization of a 99.6% stake in the Odesa Port-Side Chemical Plant, one of Ukraine`s largest chemical producers, with a starting offer of UAH 13.175 billion. The auction was scheduled for July 26, 2016. Norway`s Yara Norge; US-based IBE Trade Corp., Koch Fertilizer, LLC and CF Industries Holdings, Inc; and Poland`s Ciech S.A. were named among the potential buyers for the plant.
On July 18, the tender to sell the plant failed due to a lack of interest, and the State Property Fund, which is in charge of privatization in Ukraine, announced plans to prepare a new tender with a possible decrease in the starting price of the shareholding by 30%.
UNIAN memo. Odesa Port-Side Plant, which is located in the town of Yuzhny in Odesa region, is Ukraine`s second largest ammonia and carbamide producer and the third largest manufacturer of nitrogen fertilizers. The company also handles shipments of chemical products arriving from CIS countries and exports. The company holds a monopoly in the national market of specialized services for acceptance, cooling and transshipment of ammonia.

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