| Thu 20 Mar 2008, 14:49 | | ABU - a.b.e Construction Chemicals Limited - Flooding affects production at |
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ABU
ABU
ABU - a.b.e Construction Chemicals Limited - Flooding affects production at
isipingo factory
(Incorporated in the Republic of South Africa)
(Registration Number 1982/005383/06)
Share code: ABU ISIN: ZAE000102059
("a.b.e")
Flooding affects production at isipingo factory
The heavy downpour of rain on the night of Tuesday, 11 March 2008 that continued
into the early hours of Wednesday, 12 March 2008 caused considerable damage in
Durban affecting, amongst others, the areas of Merebank, Umlazi, Isipingo,
Amanzimtoti, Chatsworth, Pinetown and Lamontville. As a result of this heavy
downpour, a.b.e`s Isipingo factory was flooded with water which interrupted
production and damaged raw materials and finished goods stocks.
All personnel were safely removed from the factory and immediate measures were
taken to drain the water from the premises and replace damaged stock, equipment
and office furniture in order to facilitate the efficient return to normal
production levels.
a.b.e estimates approximately 3 weeks of lost production and anticipates
resuming limited production at the Isipingo factory by Wednesday, 26 March 2008.
a.b.e is currently meeting customer requirements from inventory situated at
other branches.
The extent of the damage and related financial impact, if any, cannot be fully
assessed at this stage, however, a.b.e`s insurers have been advised and a.b.e is
insured against such events including insurance against loss of profits. If
relevant, shareholders will be provided with further information when a.b.e`s
financial results for the period ending 31 May 2008 are announced.
For further information contact:
Lawrence Avis (Financial Director)
+27 31 913 5400
+27 82 651 7884
Johannesburg
20 March 2008
Designated and Corporate AdviserPSG Capital (Pty) Ltd
Date: 20/03/2008 14:49:48 Produced by the JSE SENS Department.
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