Neochim's Ammonia Production Comes to a Halt, Leaving Bulgaria in Limbo

Bulgaria [Europe]: Neochim, a Bulgarian fertiliser producer, has reported an unplanned stoppage at their Ammonia production unit due to a technical glitch.

According to a recent update, the plant's Ammonium Bicarbonate and Nitric Acid production units were not impacted by the emergency shutdown. Neochim, in a separate statement, added that the breakdown led to a substantial decrease in Natural gas consumption at the Ammonia unit.

Neochim has faced multiple production stoppages due to technical issues since October, in late March, due to a technical failure at the Nitric Acid production workshop, three units had to be shut down which was the most recent occurrence. In total, Neochim has experienced six production stoppages as a result of technical problems.

Neochim's stocks closed unchanged at 37.30 levs ($20.90/19.07 euro) on Thursday, marking the end of trading prior to the start of the Orthodox Easter holidays. The company's shares have fallen in value by more than 23% over the last year.