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19-Jan-2017

Advanced to resume operations at its propylene and polypropylene plants

Advanced has announced the resumption of operations at its propylene and polypropylene (PP) plants as of 18 January 2017 after conducting a proactive shutdown to increase operational efficiency. The company noted that it expects a positive impact, following the shutdown as it will boost the plant’s future reliability. The release did not mention what impact the shutdown will have on 1Q17 results, but had previously noted that they expect the impact to be minimal, given the short length of the shutdown. (Tadawul)     Advanced: SAR44.73 as of 18 January 2017, Rating: Neutral, TP: SAR42.50 per share, MCap: USD2,347mn, APPC AB / 2330.SE

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