SIIG halts Saudi Polymers on technical glitch, restart likely on Feb. 3

29/01/2023 Argaam
A SIIG factory

A SIIG factory

Saudi Industrial Investment Group (SIIG) announced an unplanned temporary shutdown of one of its subsidiaries; Saudi Polymers Co., due to a technical glitch in the ethylene refrigeration unit, according to a statement to Tadawul.

 

The company is working to fix the issue, and the unit is expected to restart operations on Feb. 3.

 

The relevant financial impact cannot be determined at present due to price fluctuations, the statement noted, adding that it will appear on Q1 2023 financials.

 

The company will announce any material developments in due course, it added.

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