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(Arabian Oil and Gas) -- Saudi
Arabia's National Petrochemicals Company (Petrochem) and Saudi Industrial
Investment Group (SIIG) have decided to delay merger study of their assets until
the start and the stabilisation of the project of the Saudi Polymers Company,
the two companies said in a statement published on Saudi stock exchange
“Tadawul”.
The two companies said that the Saudi Polymers project is slated for
production in the fourth quarter 2011. “Upon the completion of the project, we
will be able to take the best expectation including the costs, sales and the
profitability of the project,” said Petrochem, the owner of the Polymers
project. “This will allow us to set a fair value of the company’s shares before
the merger,” it added.
mrcplast.com
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