Chinese fertilizer firm Lifosa faces economic challenges

We have to focus on both the sale of our products and the purchase of raw materials and we are still looking for buyers and creating our new history with direct sales as well as suppliers of raw materials. She told LRT Radio that there will be many more challenges ahead because the restoration of supply is not something that can be addressed in one day.

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

After several months of work, we hope that the process will be sustainable and long-term. It is a very important event for Kedainiai, we understand that this district is dependent on this company, and we understand that it is very important for Kedainiai.

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

The company is expected to employ 60 70 percent of its normal workforce by the end of August, with 80 percent of its usual workforce expected to join in at a later stage.

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

An interim administrator was appointed on May 24 and was charged with the task of ensuring that the company's operations don't breach international sanctions.

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