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April 18 (SeeNews) - Bulgarian fertiliser producer Neochim [BUL:NEOH] said that a technical glitch caused an unplanned stoppage at its unit for the production of ammonia.
The emergency shutdown did not affect the operations of the plant's ammonium bicarbonate and nitric acid production units, Neochim said in a bourse filing on Sunday.
In a separate statement, Neochim also said that as a result of the breakdown, the ammonia unit has significantly reduced its consumption of natural gas.
Since October, Neochim has had to implement production stoppages six times due to technical issues, most recently shutting down three units in late March as a result of a technical failure at the nitric acid production workshop.
Shares in Neochim closed flat at 37.30 levs ($20.90/19.07 euro) on Thursday, the last trading day before the Orthodox Easter holidays. Neochim's stock has declined in value by over 23% in the past 12 months, bourse data showed.
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