NUF 3.11% $4.36 nufarm limited

Ann: Change of Director's Interest Notice, page-12

  1. 112 Posts.
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    From Adama 4th Quarter report on 20th March,
    looks like Nufarm was/is buying products from Adama manufacturing site in Jingzhou hence both are struggling due to this.

    ”Jingzhou Old Site
    At the end of January 2019, preceding the Spring Festival, the Company voluntarily suspended operations at Sanonda’s old site in Jingzhou, which is in the process of being relocated to a nearby advanced site, due to recording of higher than permitted levels of wastewater compounds. The Company was subsequently instructed by the local government not to resume operations before rectification. The Company is working to rectify the discharge levels and resume operations at the old site as soon as possible.In recent years, the Company has already invested $125 million in the relocation of the Jingzhou old site, and has installed advanced production and environmental facilities at a new and already operational site, including an investment of $16 million in a state-of-the-art wastewater treatment facility, which is ready to commence operation.According to the rectification plan underway, the Company began commissioning of the new wastewater treatment facility at the new site, which will also serve the old site, and expects to commence gradual resumption of operations at the old site around the end of March.Notwithstanding that the old site produces only a small number of products for the group, and the fact that ADAMA has significant production and procurement capabilities elsewhere in China and worldwide, the suspension is expected to have a negative impact on the Company’s performance, mostly in the first and second quarters of 2019. In the first quarter, the Company foresees an impact of low double-digit millions of dollars on its performance.”
 
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