The agreement to be signed between Grupa Azoty S.A. and all companies within its Capital Group strengthens and standardizes the principles of cooperation on areas such as integration processes, joint project management, restructuring, cost optimization, and information exchange. The Management Board of Grupa Azoty S.A. has resolved to approve the signing of this integration agreement, initiating the process of formalizing the document between Grupa Azoty S.A. and each of its affiliated companies.

This initiative stems from ongoing efforts toward restructuring and transforming the Group into a cohesive, cost-effective entity with a strong position in the European fertilizers, plastics, and OXO product markets.

Following discussions and negotiations with banks, Grupa Azoty Polyolefins has signed an Amendment to the Stabilization Agreement dated December 15, 2023, related to the financing of the Polimery Police project. This agreement, which extends financing terms until October 31, was signed with 15 financial institutions.

Hyundai Engineering Co., Ltd., the General Contractor for the Polimery Police project, has submitted two proposed amendments to the EPC contract. Notably, Grupa Azoty Polyolefins is currently negotiating with the General Contractor regarding the final settlement of the Polimery Police project, aiming to reach an agreement on mutual claims. As part of these negotiations, Grupa Azoty Polyolefins informed the General Contractor of its position and evaluation concerning the previous amendment proposals submitted in 2023 and February 2024. Based on the documents and information provided, Grupa Azoty Polyolefins has largely found no grounds to accommodate the contractor’s claims from 2023 and February 2024.

Grupa Azoty Polyolefins has extended the terms of the Stabilization Agreement, originally dated December 15, 2023, and later amended, concerning the financing of the Polimery Police project. The agreed-upon financing conditions provided by financial institutions will now remain in effect until September 30 of this year. 

Following successful negotiations with the banks, Grupa Azoty Polyolefins signed an Amendment Agreement on August 6 to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. The parties have agreed on the conditions under which the Financial Institutions will provide financing for the project during the next period of the Stabilization Agreement, which extends until August 30, 2024. The Amendment Agreement was signed with 15 Financial Institutions.