Chemanol to conduct scheduled maintenance at its methanol, dimethylformamide plants
Chemanol announced a scheduled maintenance shutdown of its methanol and dimethylformamide plants as of 8 February. The 21-day shutdown will include replacing the catalyst and conducting maintenance activities that should enhance the plants’ operational efficiencies. The company mentioned that the subject shutdown will not affect operations in the other plants. The financial impact of the shutdown is expected to come in at SAR26mn, which will affect 1Q18’s financial results.
Chemanol: SAR10.54 as of 5 Feb. 2018, Rating: Sell, TP: SAR4.00/share, MCap: USD339mn, CHEMANOL AB/2001.SE
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