Neochim to shut down production for facilities’ maintenance in the beginning of 2024 (NEGATIVE)

08.12.2023 Source: Neochim; FFBH

Neochim announced that it will begin shutting down its production facilities on 31 of December with all operations to be completely halted by 2 January 2024. The company cites recurring technical check-ups and maintenance of the facilities, which work under high pressure. Meanwhile, Neochim plans to conduct its annual maintenance procedures during that time. Management announced the end of February 2024 as an indicative timing of resuming operations. Recall that in the beginning of 2023, Neochim had considerable problems with its facilities, which operate under high pressure, which resulted in temporary shutdowns on multiple occasions. However, Q1 is usually a busy quarter for companies like Neochim, as farmers are typically looking to secure their fertilizer needs during that period.