Equipolymers Declare Force Majeure

Horgen, SWITZERLAND – Since August 14, 2008 Equipolymers has been forced to stop the production of its PTA-PET plant in Ottana owing to unexpected and unforeseeable problems with main air compressor motor.

"Unfortunately, the persistence of the above problems beyond our reasonable control has forced to declare Force Majeure for undefined period of time.

We are using all reasonable means and efforts to overcome these problems as soon as possible but at present, we are not able to foresee the restart of production in the short term", said Graham Fox, President and CEO of Equipolymers.

About Equipolymers
Equipolymers is a 50/50 global joint venture between Petrochemical Industries Company (PIC) of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation and The Dow Chemical Company. Equipolymers manufactures and markets polyethylene terephthalate resins (PET), whilst producing purified terephthalic acid (PTA). PET is a high quality plastic for use in the packaging industry and in particular for the production of beverage, food and other liquid containers. PTA is a key raw material for the production of PET. Equipolymers serves customers globally and is headquartered in Horgen (Zurich), Switzerland. Production facilities include PET and PTA plants in Ottana, Italy, and two PET plants in Schkopau, Germany.

For editorial information:
Cinzia Errico
Business Communications
+ 41 44 728 2118
cerrico@equipolymers.com