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Acron Releases 2008 Operational Results

Group’s Consolidated Output

Stated in ‘000 tonnes 2008 2007 YOY, %
Ammonia 1,494 1,690 -12%
incl. own use 1,242 1,381 -10%
Straight nitrogen fertilisers, including: 1,710 1,665 3%
incl. own use 281 195 44%
Ammonium nitrate 997 1,214 -18%
incl. own use 81 94 -14%
Urea 449 450 0%
incl. own use 200 100 100%
Urea-ammonium nitrate (UAN) 264 1
Multi-nutrient fertilisers, including: 1,996 2,673 -25%
incl. own use 31 52 -40%
NPK 1,813 2,239 -19%
incl. own use 31 52 -40%
NP 5 136 -96%
Bulk blends 177 298 -40%
Organic synthesis products, including: 601 623 -4%
incl. own use 273 257 6%
Methanol 187 231 -19%
incl. own use 98 98 1%
Formaldehyde 193 184 5%
incl. own use 174 154 13%
Urea-formaldehyde concentrate (UFC) - 6 -100%
incl. own use - 6 -100%
Urea-formaldehyde resins (UFR) 221 203 9%
incl. own use 1 1 -15%
Inorganic synthesis products, including: 901 964 -7%
Low-density and industrial ammonium nitrate 272 189 44%
Calcium carbonate 484 554 -13%
Liquid carbon dioxide 45 57 -21%
Argon 6 7 -5%
Hydrochloric acid 93 157 -41%

Veliky Novgorod Production Facility
(Russia)

Stated in ‘000 tonnes 2008 2007 YOY, %
Ammonia 1,034 1,114 -7%
incl. own use 810 839 -3%
Straight nitrogen fertilisers, including: 1,104 977 13%
incl. own use 261 129 103%
Ammonium nitrate 391 527 -26%
incl. own use 61 29 113%
Urea 449 450 0%
incl. own use 200 100 100%
Urea-ammonium nitrate (UAN) 264 1
Multi-nutrient fertilisers, including: 1,104 1,190 -7%
incl. own use 18 19 -5%
NPK 1,039 1,006 3%
incl. own use 18 19 -5%
NP 5 136 -96%
Bulk blends 61 48 28%
Organic synthesis products, including: 516 495 4%
incl. own use 273 257 6%
Methanol 102 102 0%
incl. own use 98 98 1%
Formaldehyde 193 184 5%
incl. own use 174 154 13%
Urea-formaldehyde concentrate (UFC) - 6 -100%
incl. own use - 6 -100%
Urea-formaldehyde resins (UFR) 221 203 9%
incl. own use 1 1 -15%
Inorganic synthesis products, including: 590 517 14%
Low-density and industrial ammonium nitrate 212 139 52%
Calcium carbonate 353 348 1%
Liquid carbon dioxide 20 23 -16%
Argon 6 7 -5%

Dorogobuzh Production Facility (Smolensk region, Russia)

Stated in ‘000 tonnes 2008 2007 YOY, %
Ammonia 396 474 -16%
incl. own use 385 460 -16%
Straight nitrogen fertilisers, including: 606 688 -12%
incl. own use 20 66 -70%
Ammonium nitrate 606 688 -12%
incl. own use 20 66 -70%
Multi-nutrient fertilisers, including: 434 725 -40%
incl. own use 13 33 -61%
NPK 402 618 -35%
incl. own use 13 33 -61%
Bulk blends 32 107 -70%
Inorganic synthesis products, including: 218 290 -25%
Low-density and industrial ammonium nitrate 61 50 22%
Calcium carbonate 132 206 -36%
Liquid carbon dioxide 26 34 -24%

Hongri Acron (Shandong province, China)

Stated in ‘000 tonnes 2008 2007 YOY, %
Ammonia 64 102 -37%
incl. own use 47 83 -43%
Multi-nutrient fertilisers, including: 457 758 -40%
NPK 373 614 -39%
Bulk blends 84 144 -41%
Organic synthesis products, including: 85 129 -34%
Methanol 85 129 -34%
Inorganic synthesis products, including: 93 157 -41%
Hydrochloric acid 93 157 -41%

Alexander Popov, chairman of Acron’s Board of Directors, commented on the Group’s performance:

“On the whole, 2008 was not as good for the Group as 2007. In Q4, plummeting global prices for mineral fertilisers forced the Group to cut output to half the normal level. At Dorogobuzh, performance was affected by the shutdown of its ammonia unit for scheduled maintenance and the disruption of phosphate supplies earlier in 2008. Hongi Acron cut back on its production, too, due to highly volatile prices for key inputs and adverse market conditions in the second half of the year.”