HIP-Azotara explained

HIP-Azotara
Native Name:ХИП-Азотара
Native Name Lang:sr
Predecessor:Hemijska Industrija Pančevo (HIP)
Type:d.o.o.
Location City:Pančevo
Location Country:Serbia
Key People:Danilo Tomašević
Industry:Chemicals
Products:Mineral fertilizer, nitrogen compounds
Revenue: 59.10 million [1]
Net Income: €10.02 million
Assets: €168.31 million [2]
Equity: €124.42 million
Owner:Promist d.o.o.
Num Employees:209

HIP–Azotara (Serbian: ХИП-Азотара), or simply Azotara, is a Serbian mineral fertilizer and nitrogen compounds company, with the headquarters in Pančevo, Serbia. It was founded in 1975.

History

In 1962, a Yugoslav industrial giant - "Hemijska Industrija Pančevo" (eng. Chemical Industry of Pančevo") was founded with headquarters in Pančevo. In 1975, it was split into two companies which are in close proximity - HIP-Azotara (for mineral fertilizers) and HIP-Petrohemija (for petrochemicals).[3] HIP-Petrohemija was built on the success of HIP-Azotara, and only by 1990, the companies were completely separated. HIP-Azotara never claimed its share in the ownership of HIP-Petrohemija, as both were in the state-ownership.[4] In 1999, the company facilities were targeted and bombed during the NATO bombing of Yugoslavia; estimates are that around 250 tons of liquid ammonia had leaked into the ground and the waste water channel as a result.[5]

2006–2009

In April 2006, HIP-Azotara was privatized and sold to the Lithuanian-Serbian consortium (Arvi & Co, Sanitex, and Univerzal-holding) for 13.1 million euros.[6] [7]

2009–2021: Srbijagas takeover

The 2006 privatization was cancelled in January 2009,[8] and 55 million euros of debt was converted to the ownership shares, with the Serbian state-owned gas company Srbijagas set to become the majority stakeholder with 81.6% of shares. In April 2012, it was announced that 130 million euros of debt was written off.[9] In March 2013, Srbijagas formally took over the company.[10] From September 2018 until May 2021, the HIP-Azotara was in bankruptcy procedure.

2021–present: Promist

In May 2021, it was sold to the Novi Sad-based company Promist for 650 million dinars.[11] In May 2022, it was announced that there are plans for the creation of facility for blue hydrogen production in the future in HIP-Azotara.[12]

See also

Notes and References

  1. Web site: Bilans uspeha (2022) - HIP-Azotara. apr.gov.rs . 13 May 2024. Serbian.
  2. Web site: Bilans stanja (2022) - HIP-Azotara. apr.gov.rs . 13 May 2024. Serbian.
  3. News: PANČEVO: 55 godina od početka rada HIP Azotare . 13 May 2024 . 27 November 2017 . Serbian.
  4. News: Azotara Pančevo – majka Petrohemije . 13 May 2024 . politika.rs . 10 September 2012 . Serbian.
  5. Web site: Vučetić . Marija . Posledice bombardovanja – Pančevo . ekostraza.com . 15 May 2024 . Serbian.
  6. Web site: Потписан уговор о продаји ДП "ХИП Азотара" из Панчева . srbija.gov.rs . 13 May 2024 . Serbian . 12 April 2006.
  7. News: Počela proizvodnja u Azotari nakon godinu dana pauze . 13 May 2024 . danas.rs . 3 August 2009 . Serbian.
  8. News: Raskinut ugovor o prodaji "Azotare" . 13 May 2024 . rts.rs . 9 January 2009 . Serbian.
  9. News: Azotari "obrisano" 130 mil.€ duga . 13 May 2024 . b92.net . 3 April 2012 . Serbian.
  10. News: Srbijagas većinski vlasnik Azotare . 13 May 2024 . rts.rs . 27 March 2013 . Serbian.
  11. News: Azotaru kupio Promist, najavljuje pokretanje proizvodnje . 13 May 2024 . b92.net . Tanjug . 26 May 2021 . Serbian.
  12. News: Planovi za pančevački petrohemijski kompleks - Azotara će proizvoditi plavi vodonik, Petrohemija 264.000 tona polipropilena godišnje, Transnafta pregovara s Rumunima . 15 May 2024 . ekapija.com . 31 May 2024 . Serbian.