Petrochem to shut polymers unit during Q416

23/02/2016 Argaam

National Petrochemical Co. (Petrochem) said it will shut its polymers unit for 60 days during Q4-2016 for scheduled maintenance.

 

Relevant financial impact cannot be determined currently, but it is expected to reflect on Q4-2016 and Q1-2017 results, the Saudi petrochemical firm said in a statement.

 

The company did not mention specific dates for the expected shutdown.

 

The polymers unit is run by Saudi Polymers Co., which is 65 percent owned by Petrochem.

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