CSP
CSP
CSP - ChemSpec - Chemspec expands export business
Chemical Specialities Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
JSE share code: CSP
ISIN Number: ZAE000109427
("ChemSpec" or "the Company")
ChemSpec expands export business
Shareholders are advised that ChemSpec has secured its first one million rand
export order of METALUX 2, the Company`s premium automotive refinish product,
into the Mauritian market. The Company has also secured its second order of
METALUX 2 into the Chinese market.
Furthermore, ChemSpec has entered into discussions with a multimillion dollar
company based in South East Asia to partner it in the distribution of its water
based automotive refinish product ,HYDROLUX, into that region. This established
chemicals company is a leader in the coatings industry and already has well
developed distribution channels into the automotive industry in South East Asia
through its other product offerings. HYDROLUX testing will commence in August,
with trial runs scheduled for October and a full launch planned for December of
this year.
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. The Company has also started to manufacture these
products in the United States of America.
Durban
22 July 2008
Designated Advisor
QuestCo Sponsors (Proprietary) Limited
Date: 22/07/2008 16:29:07 Produced by the JSE SENS Department.
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