MOSCOW (MRC) -- Supreme Petrochem has the informed the bourses that operations at the company’s EPS plant at Chennai have been disrupted due to the heavy rains and floods, said Thehindubusinessline.
The expected downtime can be assessed only after normalcy returns, it added. However, the company does not anticipate any material loss of revenue as customers can be serviced from its EPS plant located at Village Amdoshi/Wangani, District, Raigad, Maharashtra. The plant has adequate insurance cover against natural calamities, Supreme Petrochem said.
As MRC informed earlier, several years ago Supreme Petrochem declared force majeure for its exports after Mumbai port was closed due to collision of two ships. Up to 100 containers of polystyrene targeted for export markets were stranded at the port.
Supreme Petrochem Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 1140.65 Cr.) operating in petrochemicals sector. Supreme Petrochem Ltd (SPL) is India’s largest producer and exporter of polystyrene polymer based in Mumbai, Maharashtra, India. In Indian market it has share of more than 50%. SPL is also the largest exporter of PS from India, exporting to over 93 countries around the globe.
MRC