Chinese fertilizer firm Lifosa struggles to find buyers

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Chinese fertilizer firm Lifosa struggles to find buyers

We have had to refocus very quickly due to the many challenges related to 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 the LRT Radio that the restoration of supply is not something that can be addressed in one day, so there will be many more challenges ahead, she said.

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.

We hope the 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, and we understand that this district is dependent on this company, Slama said.

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

By the end of August, the company is expected to have 60 70 percent of its usual workforce, with 80 percent of 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 Lifosa's accounts were frozen and the company suspended operations on April 10.

On May 24, an interim administrator was appointed at Lifosa and charged with the task of ensuring 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.