Published: Sep 29, 2014
Source: Tadawul

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Addendum announcement from advanced petrochemical company related to the short-term sales agreement for supply of propylene

This is with reference to the short term sales agreement, for the supply of propylene that was concluded between Advanced Petrochemical Company and Saudi Aramco Total Refining and Petrochemicals (SATORP) on 01.08.2013 for the supply of a total of 80,000 metric tons of propylene per year which was already announced on August 4, 2013 in Tadawul. Advanced is pleased to announce that the effective supply will be starting from October 01, 2014. Note that this supply will provide additional propylene which will contribute to increase in the production of polypropylene by the same amount and thus increase revenue from the sale of the additional polypropylene and the financial impact of this supply will be reflected on the company's financials from the fourth quarter of 2014 up to the duration of the agreement.

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