Lifosa is trying to slip out of the sanctions

The Lifosa plant (Lithuania) has cut any ties with Russia, reported its General Director Rimantas Prosevičius.

According to his statement, EuroChem has passed control over Lifosa to the Swiss EuroChem Group, and the enterprise will now be called EuroChem Europe. Samir Yacoub Brikho, Chairman of the Board of Directors of Swiss EuroChem Group, has already visited the enterprise and got acquainted with the current state of affairs there.

Marc Hechler, former CFO of the EuroChem Group, will become Chairman of EuroChem Europe and its CEO.

In March this year, the European Union authorities imposed sanctions against Andrey Melnichenko, the owner of EuroChem. After that, Lifosa’s accounts were blocked and the company was forced to stop its operations in April.

Lifosa produces phosphoric acid, diammonium phosphate and monoammonium phosphate.

Add Fertilizer Daily to your followed sources to get market news first  

Enjoyed the story?

Once a week, our subscribers get their hands first on hottest fertilizer and agriculture news. Don’t miss it!