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Grupa Azoty halts production of fertilizers due to high gas prices

GDANSK, Aug 23 (Reuters) - Polish chemicals firm Grupa Azoty said it was temporarily halting production at its plants making nitrogen fertilizers, caprolactams and nylon 6 due to an unprecedented rise in natural gas prices.

"The current situation in the natural gas market, which determines the profitability of production, is exceptional, completely independent of the company and impossible to forsee," the company said in a regulatory filing on Monday.

Grupa Azoty said it would carry out investment processes and maintenance during the standstill and would continue to produce catalyzers, polyamide film, humic acid, thermoplastic starch and concentrated nitric acid.

Grupa Azoty also said its unit Grupa Azoty Zaklady Azotowe Pulawy was cutting production of ammonium down to about 10% capacity, citing gas prices, after suspending production of melamine earlier in August. (Reporting by Karol Badohal; Editing by Kim Coghill)

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