Croatias Petrokemija ships one million tonnes of fertilizers to markets.

By bne IntelliNews November 23, 2012
Croatian fertilizer producer Petrokemija said it shipped its millionth tonne of fertilizers to the markets on November 21. The company is trying to fulfill its production target for 2012 and trying to compensate for the lost volumes earlier this year because of the adverse weather conditions and economic hardship, the company said in a filing with the Zagreb bourse. Petrokemija also said that it has received a formal proposal and request to become a member of the European Fertilizer Manufacturers Association. The company expects to become a member of the Association in January 2013. Petrokemija turned to a pre-tax loss of HRK 138.6mn (EUR 18.4mn) in Jan-Sep 2012 from a pre-tax profit of HRK 114.5mn a year ago. Its total revenue was down 6% on the year to HRK 2.12bn in Jan-Sep, while total expenditures went up by 5.5% on the year to HRK 2.26bn. The Croatian state is the main shareholder in the company with a 50.6% stake.

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