Alujain Corp. — Capital/Financing Update 2015

Jan 1, 2015

Alujains subsidiary NATPET announces shutdown of its PP Complex for a planned major turnaround procedure

2170 · 01/01/2015 16:03:53 · Announcement #36531 · View on Saudi Exchange

Alujains subsidiary NATPET announces shutdown of its PP Complex for a planned major turnaround procedure

Alujain announces that its subsidiary National Petrochemical Industrial Co. (NATPET) Propylene & Polypropylene Complex in Yanbu Industrial City, Alujain own (57.4%) of its Capital, will undergo a scheduled major turnaround procedure (major maintenance) for a period of 33 days starting January 25th 2015. The estimated financial impact will be SR 38 Million depending on prevailing prices of polypropylene and feedstock, which will be reflected in the 1st Quarter 2015 financials. It may be noted that such shutdown for turnaround procedure is not counted as loss in production and revenues, since it is planned in advance in accordance with accepted industrial practice and the effects have been taken into account in the preparation of the operating budget for 2015, both in terms of the quantity of production and expected revenue.

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