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Saudi Industrial Investment Group announces an unplanned shutdown for one of its subsidiaries (Saudi Polymers Company)
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Industrial Investment Group announces an unplanned shutdown for one of its subsidiaries (Saudi Polymers Company) as a result of a technical issue in the Ethylene refrigeration unit. Operators at the site are currently working on repairing the technical issue and will work on gradually restarting the plant, Current estimation is being back in production next Friday February 3rd . The financial impact of this shutdown cannot be measured at this time due to the fluctuation of product prices. The financial impact of this shutdown will be reflected in SIIG’s Q1, 2023 results. SIIG will announce any material developments in a timely manner. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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