Scandal involving hundreds of millions of euros and 2,500 jobs. Accusations between Azomureș and Romgaz

Azomureș, the only chemical fertilizer plant in Romania, announced that it is sending 600 employees into technical unemployment and suspending the contracts of another 1,500 employees, accusing Romgaz of prolonging the takeover process. In response, Romgaz said that with this announcement, Azomureș is putting pressure to obtain a better price. According to Ziarului Financiar, the state company has already made an offer of hundreds of millions of euros, but half of the amount that Azomureș was expecting.

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Azomureș announced in a statement on Tuesday that it is resorting to measures affecting more than 2,500 jobs, due to the prolonged uncertainty regarding the gas supply and the deadlock in the state-led procurement process.

The company has 1,000 of its own employees, and another 1,500 are from companies that work on the platform and depend on the combine.

“In the absence of a clear and credible path, this workforce footprint can no longer be sustained at current levels. Consequently, Azomureș will implement the following measures in the immediate future:

• approximately 600 employees will be placed on technical unemployment, with the objective of avoiding permanent redundancies, while viable and sustainable solutions are analyzed;
• major maintenance and service contracts will be suspended or significantly reduced, which will directly affect more than 1,500 employees of contractors who operate almost permanently on the Azomureș platform”, according to a statement from the fertilizer producer.

Azomureș accuses Romgaz of delaying the takeover of the plant

Azomureș, owned by the Swiss group Ameropa, says that in the last 12 months it has held continuous discussions with Romgaz regarding a possible acquisition of the industrial platform from Târgu Mureș.

“Romgaz has publicly indicated that a binding offer could be made by the end of 2025, subject to the completion of technical, financial, legal and environmental due diligence. The due diligence process has been fully conducted. However, to date no binding offer has been submitted and no credible execution timetable has been communicated, leaving the future of the only large-scale nitrogen fertilizer production platform unresolved industry in Romania”, say Azomureș representatives.

Despite these reductions, the facilities remain technically ready for restart, subject to economic feasibility, the combine also announced.

Romgaz says it has sent an offer and is waiting for Azomureș's response

In response, Romgaz says that it sent Azomureș an offer regarding the takeover and is waiting for a response from the owners of the plant.

“Romgaz does not act or perform corporate formalities just to satisfy the intrinsic interests of a third-party seller. Romgaz conducts its corporate actions with rigor and balance, ensuring that no decision would affect the company's economic interests.

For correct information, Romgaz states that it sent a letter to Azomureș in which it informed in relation to the price range proposed for the acquisition of Azomureș assets, stating that, if this price range was accepted, the parties could enter into extensive negotiations regarding the terms and conditions of the transaction”.

What was the offer made by Romgaz

“We strongly believe that Azomureș's press release in relation to Romgaz cannot lead to awareness, in the sense of accepting any price for such a transaction.”

Romgaz officials also say that, if Azomureș representatives wish, they remain open to an honest and coherent dialogue to negotiate and justify the acquisition of Azomureș assets.

“At the same time, Romgaz will also analyze any other opportunity to invest in a project in the chemical fertilizer industry on the Romanian market”, Romgaz officials also showed, without specifying what it is about.

According to Ziarului Financiar, Romgaz would have offered less than 100 million euros, while the Azomureș owners expected an amount of around 200 million euros.

Romgaz announced a year ago that it is interested in taking over Azomureș, a plant that has been mostly closed in recent years due to high gas prices. Romgaz owns 50% of the deep-sea project Neptun Deep, where gas production will start in 2027.

Ameropa, the owner of Azomureș, is a Swiss agribusiness group with international activity, covering the entire chain in the agri-food sector, from production and marketing to logistics and distribution. The company is headquartered in Binningen (Switzerland), near Basel, and operates in more than 30 countries on all continents.