Sipchem Announces Start of Commercial Operation of The Specialized Metal Molds Plant

Saudi International Petrochemical Company (Sipchem) announced that the Tools Manufacturing Facility and industrial parts plant owned by the Saudi Specialized Products Company, an affiliate of Sipchem commenced commercial operations today November 1, 2016. The plant is located in the Second Industrial City in Riyadh. The plants equipment tests were completed successfully ensuring efficiency, capacity and product quality. The financial impact will be reflected in the company's financial results of the 4th quarter of 2016.

The total cost of the Tools Manufacturing Facility is approximately SR 110 million, financed by the partners and local financing entities. The  Plant produces  variety of metal molds, spare parts and specialize industrial part and equipment. The plant utilizes the manufacturing technology of (Kiefer Werkzeugbau) GmbH, Germany to produce molds and parts used in plastic factories, packaging and metal industries. The plants infrastructure was designed to maximize flexibility so as to allow for the  manufacture of a wide range of commercial and industrial products required standards.

The plant has obtained a number of quality certificates: DIN EN ISO 9001, BS OHSAS 180001 and DIN EN ISO 14001.

The Saudi Specialized Products Company (SSPC) is a partnership between Sipchem (75%) and Hanwha Chemical Overseas Holdings Co limited

of Korea (25%).