InterAgro pays 10m euros for a Nitrofertilizer asset

Turnu Magurele-based Donau Chem, controlled by the InterAgro group, held by businessman Ioan Niculae, acquired the main asset of Fagarasi-based Nitrofertilizer, a producer of fertilisers and nitrogen-based products, for 34 million RON (10 million euros) through a tender. “We have acquired this plant in order to make it operational again. We want to do the same thing we did in Targu Mures, a plant that was pending bankruptcy when we took it over, and is now running at full capacity,” stated Constantin Neagoe, general manager of Donau Chem. Ioan Nicolae did not wish to make any comments on this transaction. The asset acquired by Donau Chem, which is called “Grup Azot”, comprises a building, various pieces of equipment and a plot with an over 445,000 square-metre area. According to Donau Chem’s general manager, the moment when the contract is closed will depend on the Nitrofertilizer representatives. “We estimate the signing of the contract will take place by the end of this month or by next month at the very latest. It is in everyone’s interest for this contract to be signed as soon as possible,” stated Alin Ciambur, the general manager of Nitrofertilizer in Fagaras.