SAHARA PETROCHEMICAL CO 2260.SE :
* DECLARES AN EMERGENCY SHUTDOWN IN ONE OF ITS AFFILIATES COMPANIES
* DECLARES THAT CO'S SUBSIDIARY AL WAHA PETROCHEMICALS EXPERIENCED TECHNICAL ISSUE IN PROPANE DE-HYDROGENATION UNIT ON FRIDAY OCT 19
* MANAGEMENT OF COMPANY EVALUATED ISSUE AND DECIDED TO CARRY OUT REPAIRS BEFORE RE-OPERATION
* REPAIRING PROCESS IS EXPECTED TO END IN A PERIOD NOT EXCEEDING 10 DAYS STARTING TODAY'S DATE
* TECHNICAL ISSUE LED TO INTERRUPTION OF PRODUCTION PROCESS FOR POLYPROPYLENE
* DURING SHUTDOWN PERIOD COMPANY CLIENTS WILL BE SUPPLIED FROM STANDBY RESERVES AVAILABLE IN ITS WAREHOUSE
* SAYS REPAIRING PROCESS IS EXPECTED TO END IN PERIOD NOT EXCEEDING 10 DAYS
* SAYS REPAIRING PROCESS LET TO MISSING OPPORTUNITY FOR PROFITABILITY OF NEARLY 14 MILLION RIYALS BASED ON CURRENT POLYPROPYLENE PRICES
* SAYS WILL AFFECT THE EXPECTED PROFITS IN Q4 OF THIS YEAR
Source: (https://bit.ly/2NSNvDt) Further company coverage: 2260.SE
((Reuters.Briefs@thomsonreuters.com;))