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CSP
CSP
CSP - Chemical Specialities Limited - News Release And Renewal Of Cautionary
Chemical Specialities Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
ISIN: ZAE000109427
Share Code: CSP
("ChemSpec" or "The Group" or "the Company")
NEWS RELEASE AND RENEWAL OF CAUTIONARY
Growth in international markets
Shareholders are advised that ChemSpec has secured its first export order of
METALUX 2, the Company`s premium automotive refinish product, into the Chinese
market. This is, in accordance with the Company`s strategy to expand its product
offerings into the global market and grow its international presence. It will
also contribute towards the consolidation of ChemSpec`s market leading export
position in the South African coatings sector and encourage further expansion of
the Company`s international footprint.
ChemSpec will take advantage of its established and effective distribution
structure to successfully market the range of Automotive refinish products and
will continue to look for new avenues abroad.
The products are environmentally friendly and use advanced technologies thereby
meeting ChemSpec`s commitment to Global Environmental policies.
ChemSpec has facilities available in South Africa to manufacture the range of
automotive refinish products. In due course, the Company also plans to
manufacture these products in the United States of America.
ChemSpec`s international business has grown by 40% in April 2008 in comparison
to April 2007, excluding the Company`s new Chinese market.
ChemSpec anticipates record growth for its international business units over the
next three years.
Shareholders are advised that this financial information has not been reviewed
or reported on by the Company`s auditors.
Renewal of cautionary
Shareholders are referred to the cautionary announcement dated 31 March 2008 and
are advised that the Company is continuing with negotiations with third parties
which, if successfully concluded, may have a material effect on the price of the
Company`s securities. Accordingly, shareholders are advised to continue to
exercise caution when dealing in the Company`s securities until a full
announcement is made.
Durban
8 May 2008
Designated Advisor:
QuestCo Sponsor (Pty) Ltd
Date: 08/05/2008 14:25:02 Produced by the JSE SENS Department.
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