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Saudi Basic Industries Corp. — Capital/Financing Update 2020
Feb 18, 2020
53286_rns_2020-02-18_40b1ab6c-ad02-4174-a537-9b2d7acee523.html
Capital/Financing Update
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Saudi Basic Industries Corporation (SABIC) Announces its intention to suspend the production of ULTEM™ polymers in Cartagena (Spain) during 2020
2010 · 18/02/2020 09:41:41 · Announcement #57567 · View on Saudi Exchange
Saudi Basic Industries Corporation (SABIC) Announces its intention to suspend the production of ULTEM™ polymers in Cartagena (Spain) during 2020
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Basic Industries Corporation (SABIC) Announces its intention to suspend the production of ULTEM™ polymers in Cartagena plant during 2020 as part of its global operation optimisation. |
SABIC is committed to maintain its ability to meet the product needs of existing and future ULTEM™ customers from its other assets.
The decision has no direct impact on the other remaining operations at the Cartagena facility.
Initial estimation of the non-cash financial impact is approximately 700 million Saudi Riyals which will be reflected in the first quarter 2020.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.