D&L Industries Update on Chemrez

Quezon City—(PHStocks)—As of 27 November 2015, all lines at the plant of Chemrez Inc. in Calle Industria, Bagumbayan are running except for one, which is still under regular maintenance.

As part of the Company’s ongoing investigation, it has been determined that the fumes that spread out of the plant on 22 November were caused by an exothermic reaction during polymerization. In particular, we were unable to inhibit polymerization with fresh styrene monomer shipment held up over the APEC holidays.

As temperature and pressure increased in the tank, the relief valve was triggered, which released the fumes.

This is the first incident of this nature in the plant’s 31-year history. The company’s facilities operate under strict conditions in compliance with standards and requirements of our customers, which are mostly multinational companies. Further, the company implements an Integrated Management System (IMS) to ensure highest standards for product quality and care of customers, employees, and the environment.

Preventive measures will be undertaken in response to the recent events, including a fail safe chilling system.

The suspension of operations at the plant is not expected to have material impact on sales of D&L Industries.

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