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Grupa Azoty SAAzoty chemicals signs letter of intent with PGZ, Mesko and ARP to boost explosive production
Listed chemical group Azoty has signed a letter of intent with the Polish Arms Group PGZ, Mesko ammunition factory, and the state industrial development agency ARP to increase the production of explosives. The companies plan to establish an entity to develop a factory for nitrocellulose and multi-base propellants in Poland, ARP reported in a press release.
"The letter of intent aims to enhance the production capabilities of explosive materials in Poland, alongside building a raw material base. The Polish industry has lost its capacity for producing nitrocellulose and multi-base propellants. Given the increased demand from the Armed Forces for multi-calibre ammunition, it is essential to restart production of these components," the statement said.
The signatories agree on the potential establishment of a factory for nitrocellulose and multi-base propellants in Poland. They expressed their willingness to collaborate on creating a project implementation entity and developing a work schedule while sharing information.
"We are already collaborating with partners in this area. In our current situation, we want to leverage the most promising business opportunities to strengthen our revenues. Cooperation in manufacturing nitrocellulose and multi-base propellants is very promising for our plants," said the CEO of Grupa Azoty Adam Leszkiewicz, quoted in the press release.
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