Alujains subsidiary NATPET agrees to SR 75 million insurance compensation

04/08/2013 Argaam

Alujain Corporation announces that its subsidiary NATPET has agreed to receive SR 75 million as net settlement of its claim from its insurers pertaining to the breakdown that occurred at its Polypropylene Complex in Yanbu Industrial City in September 2011, which was announced on 28/10/1432 corresponding to 26/9/2011 on Tadawul. This settlement comprises of SR 24.75 million pertaining to capital repairs and the remaining SR 50.25 million to compensate for the loss arising from lower production due to this breakdown. These adjustments will be reflected in the 3rd Quarter 2013 financials

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