Kuwait, June 15, 2015: Mezzan Holding announced that it received an insurance settlement of KD3.2 million in compensation for the damages in a refinery owned by its subsidiary Kuwait Lube Oil Company KSC (KLOC). The refinery had a fire accident in 2012.

As a result of the settlement, KLOC's refinery assets have been impaired by KD1.1 million. The settlement will be reflected in Mezzan Holding's Q2 2015 financial statements with a net positive impact of KD2.2 million

About Mezzan Holding:
Mezzan Holding is one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the Gulf. The company operates 29 subsidiaries and is operationally structured into two primary business lines: the food business line and the non-food business line. With both business lines combined, the company manufactures and distributes over 358 leading consumer brands, including consumer favourites such as Kitco chips and snacks, Country Rice, Khazan meat products, Al Wazzan Rice and, Al Wazzan Canned Tuna, Aqua Gulf, Pillsbury, Green Giant, Sara Lee, Betty Crocker and Tabasco. The company is also the exclusive distributor of Starbucks chilled products, Johnson & Johnson, Dettol cleaning products, Kleenex, Listerine, Pif Paf, Huggies, Clearasil, Neutrogena, Zyrtec, Tylenol, Olfen, Mesporin, Gaviscon and hundreds of other products in Kuwait as well as Red Bull in the UAE.

Mezzan Holding is headquartered in Kuwait and operates in Kuwait, UAE, Qatar, Saudi Arabia, Iraq, Jordan and Afghanistan. 

For more information, please contact:
Fawaz Al-Sirri - Bensirri Public Relations
M: +965 66622448
E: fawaz@bensirri.com

© Press Release 2015