Only two companies did not increase ammonia output: DniproAzot (DNAZ: HOLD), whose output remained the same yoy, and Azot Cherkasy (AZOT), which decreased production by 2% during the period. Concorde Capital: The drop in output at DNAZ and AZOT is connected to aggregate repairs, aimed at improving energy-efficiency due to the threat of natural gas price increases on the horizon.
Ammonia Production In January-September:
Jan-Sept 2005 Yoy % change
Total 3,906.8 8%
Stirol 1,035.9 13%
Odessa Portside 868.1 9%
Azot Cherkasy 638.5 -2%
Azot Severodonetsk 740.0 11%
Rivneazot 253.0 10%
Dniproazot 371.3 0%