Monitchem Holdco 2 S.A.: Failure of transformer at Pratteln site - CABB Group reduces profit estimate for 2018
Failure of transformer at Pratteln site - CABB Group reduces profit estimate for 2018
Sulzbach (Taunus), October 8, 2018 - In the night of October 4 to October 5, 2018, a failure of one of two transformers of the electrolysis plant at CABB Group's site in Pratteln, Switzerland, occurred. The incident did not lead to any emissions or external effects. However, as a result of the failure, the electrolysis plant will be running at half of its capacity until the damage has been rectified.
In the event that a solution cannot be implemented in the short term and that the current condition would remain unchanged until year-end 2018, CABB Group expects a negative impact on its operating EBITDA 2018 of approximately EUR 10m.
Having performed an initial analysis of the damage, CABB Group is now pursuing several options for repair, short-term replacement or purchase of a new transformer to minimize the impact on its operating EBITDA.
At this point in time, it cannot be concluded whether the incident will have any effect on the operating performance of the first quarter of 2019.
CABB Group's management is focused on minimizing the impact caused by the transformer failure by taking adequate operative measures and will continuously inform about further developments.
08-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Monitchem Holdco 2 S.A. 488, route de Longwy 1940 Luxemburg
Luxemburg Phone: +352 2686811 ISIN: XS1074935492, XS1074933794 WKN: A1ZKFN Listed: Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Hanover; Luxembourg Stock Exchange End of Announcement DGAP News Service
730993 08-Oct-2018 CET/CEST