Maaden’s subsidiary faces difficulty at ammonia plant startup

With reference to the Companys announcement 10/06/1434H corresponding to 20/04/2013G related to MPC shut-down of the ammonia plant located in the Companys Complex at Ras Al Khair. 

Maaden announces that its subsidiary MPC has encountered technical difficulties during the start up of its ammonia plant which led into the ammonia plant shut-down. 

Due to the fact that ammonia is used in manufacturing of Diammonium Phosphate (DAP), the DAP plant has temporarily discontinued production until the ammonia plant will start operation. 

The Company will determent the financial impact of the shut-down as soon as the technical difficulties are solved. Please note that MPC will use the shut-down as an opportunity to carry out scheduled maintenance due in May which should help to reduce the financial impact expected in the second quarter 2013. 

MPC is a limited liability company co-owned by Maaden (70%) and Saudi Basic Industries Corporation (SABIC) (30%).