Published: Aug 11, 2014
Source: Tadawul


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Further announcement by methanol chemicals company regarding the limited fire incident in its paraformaldehyde unit

Further to the announcement published on Tadawul website on 16/09/1435 A. H corresponding to 13/07/2014 related to the limited fire incident in our Paraformaldehyde Unit in Jubail Industrial City, we would like to announce that the total financial impact resulting from the incident is about SAR 3 million which will be reflected in the financial results of Q3 & Q4 of 2014. Concerning the insurance coverage, the Company will apply the insurance policy of its plants to cover the losses occurred from the incident. The temporary shutdown of the Paraformaldehyde Unit during the coming period will have no effect on the other plants operations which are running normally.

Further substantial details, if any, will be announced in due course. 

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