Chemanol’s earlier fire incident is valued at SAR 29mn
Methanol Chemicals Company (Chemanol) [2001.SE] has completed the insurance procedures in valuing the paraformaldehyde unit fire incident that was announced earlier on 7 February 2016. The fire incident was valued at SAR 29mn, and the financial impact will be reflected in 2Q16 results, taking into consideration that the company had received an insurance payment of SAR10mn on account, and the remaining balance will be received shortly. (Tadawul) Chemanol: SAR6.95 as of 30 June 2016, Rating: Sell, FV: SAR4.00 per share, MCap: USD224mn, CHEMANOL AB / 2001.SE
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