Azoty to save more than expected
15:43
Polish chemicals manufacturer Grupa Azoty expects to save 30 percent more than the PLN 300 million initially planned, Krzysztof Jałosiński, CEO of Azoty, informed.
“Thanks to our Azoty Pro program, we have been expecting to save PLN 300 million in 2017. Today, however, we know that the final result will be 30 percent higher,” the company informed on Twitter.
Grupa Azoty launched its cost-cutting program in July 2014. It is one of the three pillars of the company's strategy, the remaining two being organic growth and M&A activity, set to be implemented by 2020, aimed initially at saving PLN 300 million annually starting in 2017.
Grupa Azoty is a WSE-listed, Puławy-based company specializing in the production of mono-volumes of nitrogen fertilizer and one of the world's largest producers of melamine.
