aA
Lithuania's Kedainiai-based phosphate fertilizer producer Lifosa, which is resuming operations after a nearly four-month break, is facing various challenges but hopes to overcome them all, acting CEO Regvita Ivanoviene has said.
„Lifosa“
„Lifosa“
© Bendrovės nuotr.

“We face many challenges, both related to the sale of our products and with the purchase of raw materials, we had to refocus very quickly, and we are still looking for buyers and creating our new history with direct sales as well as suppliers of raw materials. Restoration of supply is not something that can be addressed in one day hence there will be many more challenges ahead,” she told the LRT Radio on Monday.

Kestas Slama, head of the company's trade union, said that the company was very important for the district of Kedainiai and added that he hoped that all employees, including those furloughed, would be able to get back to work eventually.

“We hope this process will be sustainable and long-term, that operations will not be suspended after several months of work. It is a very important event for Kedainiai, we understand perfectly well that this district is dependent on this company,” Slama said.

On August 7, the company supervised by an interim administrator launched its sulphuric acid production unit and would resume the production of diammonium phosphate fertilizers on Monday.

The company is expected to operate at 60–70 percent capacity with 80 percent of its usual workforce by the end of August, with the remaining workers expected to join in at a later stage.

Andrey Melnichenko, a Russian oligarch with close ties with the Kremlin, was sanctioned by the EU on March 9, and subsequently, Lifosa's accounts were frozen and the company suspended operation on April 10.

On May 24, an interim administrator started work at Lifosa, charged with the task of ensuring the company’s operations without breaching international sanctions.

According to data from the social insurance fund Sodra, the company currently has 947 employees, down from 1,030 prior to the introduction of sanctions.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Regulator: public electricity supply price might double next year

Chairman of the National Energy Regulatory Council (VERT) Renatas Pocius attended a sitting of the...

Amount of payment transactions carried out by electronic money and payment institutions has doubled

The income of the electronic money institution (EMI) and payment institution (PI) sector from licensed...

In September 2022, consumer confidence indicator decreased by 5 pp

Statistics Lithuania reports that in September 2022, the consumer confidence indicator stood at minus...

Ignitis Group acquires onshore wind farm project in Poland

Ignitis Group through its subsidiary Ignitis Renewables signed an agreement to acquire 100% of shares...

Loans granted by credit institutions to residents increased in August

The Bank of Lithuania has published the monetary financial institution (MFI) balance sheet and...

Top news

Regulator: public electricity supply price might double next year

Chairman of the National Energy Regulatory Council (VERT) Renatas Pocius attended a sitting of the...

Amount of payment transactions carried out by electronic money and payment institutions has doubled

The income of the electronic money institution (EMI) and payment institution (PI) sector from licensed...

Defence spending will be increased by EUR 148mln in 2022

Funding of defence and national security will be increased by EUR 148 million this year after the...

In September 2022, consumer confidence indicator decreased by 5 pp

Statistics Lithuania reports that in September 2022, the consumer confidence indicator stood at minus...

Landsbergis calls Nord Stream leaks "terrorist act"

Lithuanian Foreign Minister Gabrielius Landsbergis on Thursday called the leaks from the Nord Stream...