LONDON (Thomson Financial) - AECI Ltd warned headline earnings per share
(EPS) are expected to be 10-15 pct below the lower range of the 400-440 rand
cents market guidance provided on Nov 28, 2007.
The South African company said this is attributable to two property
transactions which were in progress but were not completed prior to year end as
expected, and added it now expects both sales to take place in 2008.
The company said attributable earnings per share are expected to be about 30
pct below the lower range (560 cents per share) of the previous guidance.
The company said separately that Senmin International (Pty) Ltd, a
subsidiary of Chemical Services Ltd, has concluded a joint venture agreement
with Ciba UK PLC to build and operate a 380 mln rand plant for manufacturing
acrylamide and polyacrylamide using Ciba technology. Chemserve is a wholly-owned
subsidiary of AECI Ltd.
The company said the plant is to be built at Senmin's site in Sasolburg.
Commissioning will start in the first quarter of 2009 and production is
scheduled to commence towards the end of the year.
TFN.newsdesk@thomson.com
ans/ajb
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