Romgaz takes over Azomures, moves to restart fertiliser production

 Romanian natural gas producer Romgaz announced on Wednesday that it had completed all formalities related to the takeover of the production operations of Azomures, Romania's largest nitrogen fertiliser producer."SNGN Romgaz SA, Romania's largest natural gas producer and main supplier, announces the completion of the formalities related to the transaction for the takeover of SC Azomures SA's production operations, in accordance with the Transfer of Business Agreement (TBA) signed on May 29, 2026 between Romgaz, as buyer, and Azomures, as seller. With the completion of these formalities, Romgaz enters a new stage focused on integrating the acquired operations and preparing the necessary steps to restart production at Azomures," Romgaz said in a statement.Given the period during which operations have been suspended, restarting production will require a series of preliminary technical steps, including assessing the condition of the installations, carrying out the necessary inspections and tests, performing maintenance and repairs where required, and checking safety systems ahead of a phased and safe restart, the company said."The integration of Azomures' operations will be carried out in line with Romgaz's strategic objectives and principles of financial discipline, with the aim of ensuring efficient use of resources and creating long-term value," the company said.Through the transaction, Romgaz is strengthening its vertical integration strategy and laying the groundwork for a value chain in which natural gas produced in Romania can be converted into higher value-added industrial products."The completion of the transaction formalities marks the beginning of a new stage for Romgaz. By taking over Azomures' production operations, we are taking an important step in our development and vertical integration strategy and creating the conditions for generating greater added value in Romania from the natural gas we produce. This is a strategic project that we are approaching responsibly and with a long-term perspective," Romgaz CEO Razvan Popescu said.Deputy CEO Aristotel Jude said Romgaz was now entering the operational integration stage."The steps we will take are aimed at preparing for the restart of production and will be carried out rigorously and in stages, with particular attention to the safety of employees, installations and the entire industrial operation. Safety will remain an essential criterion in all the decisions and actions we undertake," Jude said.Romgaz CFO Gabriela Tranbitas said the transaction had been approached rigorously and responsibly, both from a financial perspective and in terms of its economic sustainability."In the next stage, we will focus on the efficient allocation of resources and careful decision-making so that the integration of the acquired operations contributes to creating long-term value for Romgaz and its shareholders," Tranbitas said.Romgaz said specialist advisers had assisted throughout the analysis, structuring and completion of the transaction."The involvement of advisers with experience in complex transactions supported a rigorous assessment of the relevant financial, legal and commercial aspects and contributed to informed decision-making regarding the transaction," the company said.