A US manufacturer of agricultural fertilisers has announced it has stopped operations at both its UK sites.
CF Industries Holdings announced in a statement on Thursday the move is due to high natural gas prices, and that work is to halt at its fertiliser sites in Ince, Cheshire, and Billingham, Stockton-on-Tees.
The company added that it did not know when production would resume.
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Headquartered in Illinois, the firm making hydrogen and nitrogen products employs thousands of employees in the US, Canada and the UK.
Around 400 staff are based at the firm's Cheshire site, where 1m tonnes of fertiliser are produced per year, supplying key market sectors for grass and arable farming.
It employs around 200 staff on Teesside, and has a supply chain estimated to be worth £500m a year to the region's economy. Earlier this year, it was revealed the firm was "evaluating its options" in the North East after being slapped with a bill for millions by Ofgem.
It comes after natural gas prices soared to record highs because of low supplies ahead of winter, which has raised concerns over a hit to the economy.
The continent's shortage is now at a record low for this time of year, with natural gas prices having soared by more than 35%.
In a statement to investors yesterday, it said: "[The firm] today announced that it is halting operations at both its Billingham and Ince, UK, manufacturing complexes due to high natural gas prices.
"The company does not have an estimate for when production will resume at the facilities."
