Sipchem announces the completion of IDC plant turnaround
Sipchem has announced the completion of the scheduled tunraround of the IDC plant on 5 March 2019. According to the announcement, the turnaround is expected to improve the plant’s reliability and allow it to achieve its future operational plans.
It is worth noting that the financial impact of the shutdown will be reflected on 1Q19 financial results and that the company has taken the necessary actions to eliminate any negative impact on its customers. (Tadawul)
SIPCHEM: SAR20.70 as of 6 Mar. 2019, Rating: Buy, TP: SAR26.00/share, MCap: USD2,024mn, SIPCHEM AB/2310.SE
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