3.62% "Amonil Slobozia" transactions for 3.22 million lei

Several share packages, representing 3.62% of the chemical fertilizer producer Amonil Slobozia"s capital, were transactioned in the first half of Friday"s Bucharest Stock Market (BVB) meeting, for a total amount of 3.224 million lei (955,700 EUR). Until 11:47 o"clock a total of 40.313 Amonil shares were transactioned, 40 million of those bonds being transferred at 11:35 o"clock for the price of 0.0800 lei/share, an increase of 2.56% if compared with last meeting"s final value. The market value of the company under these circumstances is 89 million lei (26.39 million euro). Until 11:50 o"clock, Amonil bonds ranked second in the liquidities charts, after Compa Sibiu shares, which cumulated transactions of 4.35 million lei.

Amonil Slobozia shareholders approved on the 28th of September the founding of a consortium, together with Zalois Ltd, Interagro SA and Intergaz SRL, with the object of relaunching chemical fertilizer production, and ensuring production continuity. During the same meeting Amonil shareholders also approved the dissolution of the Urea 1 Standard installation, which hadn"t been working since 1996.

The debates concerning the long-term contracts for chemical fertilizer exports between Amonil and Ameropa AG Elvetia and Transammonia Inc USA have also been postponed.

Amonil shareholders have decided in favor of maintaining the two companies" - Amochim and Energochim - capital participating rate, and have designated the administration council to take the necessary measures in order to recuperate the two companies" debts towards Amonil.

The first six months of the year Amonil reported a loss of 7.14 million lei (2.27 million EUR), 87,8 larger than the 3.8 million lei loss reported in the first six months of the previous year. The company"s turnover during the first term was 8.57 million lei (2.73 million EUR), 17 times smaller compared with the same period of 2006.

Amonil SA Slobozia has estimated this year"s losses to over 10 million lei, due to the ceasing of all activities in three installations, but the approved shareholder budget could be modified if methane gas distribution is resumed. The company foresees 11.83 million lei incomes and over 21.8 million lei expenses. The current budget takes into consideration the company"s existing situation, the activities of three installations being interrupted and those of other two installations functioning at low capacity. The company, which was founded in 1969, is Romania"s largest urea producer. Amonil has a share capital of 111.266 million lei (33 million EUR). The company"s main shareholders are Eurotrading Chemicals SRL, with 28.16%, the Belize Islands Zalois LTD, with 24.99%, and a group of people acting as a concern know as "The Oradea Group", which owns 17.12% of the company.

Amonil shares are being transactioned on the Bucuresti Stock Market"s second category, under the AMO symbol.