TOAZ Ramped-up the Output of Its Core Products in 1H 2020 Compared to 2019
Togliattiazot (PJSC TOAZ), the largest supplier of urea in the Russian market and one of the main producers of ammonia in Russia, summed up the results of the first six months of 2020.
In the reporting period, the production of the company’s key product – ammonia – amounted to 1.515 million tons, which is 3% higher as compared to the same period of 2019 (1.472 million tons). The production of urea by TOAZ in the 1st half of 2020 amounted to almost 493 thousand tons, which is 14.6% higher as compared to the same period of 2019 (430 thousand tons).
The increase in production volumes in 1H 2020 compared to the same period in 2019 is due to the continued demand in the world market for the products of Togliattiazot, despite the coronavirus pandemic.
PJSC TOAZ continues implementing its key investment project – construction of the third urea production unit with a capacity of 2,200 tonnes per day.
PJSC TOAZ has published its financial performance figures for the 1st half of 2020.
PJSC TOAZ has received a letter from the lawyers of its majority shareholders informing of the decisions that the High Court of Ireland had taken within the case that involved PJSC TOAZ shareholders and is being heard by the Court. In order to inform the public, we publish the bullet points from the letter.