Further to Chemanol announcement published on Tadawul website on 7 Rabi I, 1435 A H corresponding to 29 December 2014 related to the restoration and resumption of operation of the Paraformaldehyde Unit by the end of Q1 of the financial year 2015 the Company would like to announce that the required restoration work at the Unit has been completed and as of Tuesday 11 Jumada II 1436 A H corresponding to 31 March 2015 afternoon the technical evaluation procedures and the trial run of operations have begun to prepare for full scale commercial production expected to resume from the month of April It is worth mentioning that the financial impact of the technical evaluation and the trial run of operations period will be limited and immaterial due to the production capacity of the Unit constitutes less than 1% of the total production capacity of the Company plants.
Concerning the insurance coverage, the Company is still negotiating with the insurance company to cover the losses occurred from the fire incident under the insurance policy of its plants.
Further substantial details if any will be announced in due course
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