DGAP-News: Nabaltec AG / Key word(s): Miscellaneous
Supply of APYRAL(R) 40 CD; Nashtec's situation; the announced closure of Sherwin Alumina
Schwandorf, 12 August 2016 - Sherwin Alumina LLC, the raw materials supplier and cooperating partner of the Nashtec LLC joint venture, announced in a press release on 1 August 2016 that it plans to discontinue production. Production is to be discontinued through the end of August 2016.
As a result, Nashtec will lose its current supplier of raw materials and will also have to temporarily halt production commencing from September. The plan is for Nashtec to continue to operate in the future on a stand-alone basis, but this will require the agreement of the joint venture partner and implementation of an investment package which has already been planned. Once this is accomplished, Nashtec will be able to produce chemical grade aluminum hydroxide-based APYRAL(R) 40 CD as Nabaltec AG has done in Schwandorf for decades.
By taking various measures, Nabaltec has been able to increase capacity for fine precipitated aluminum hydroxide at the Schwandorf site in recent months, which will allow Nabaltec to continue to supply all of its customers in the accustomed quality. Nabaltec will take advantage of the time until the production stoppage in Corpus Christi in order to build up safety stocks and fill the supply chain so that Nashtec's customers need not be concerned about limited supply.
Nabaltec's sales team and the commercial agents will stay in close contact with their customers in the coming weeks in order to keep them informed about current developments and coordinate supply with them.
About Nabaltec AG:
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt|
|End of News||DGAP News Service|