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ISB - Insimbi - Voluntary Announcement

Release Date: 08/10/2010 14:00
Code(s): ISB
Wrap Text

ISB - Insimbi - Voluntary Announcement Insimbi Refractory and Alloy Supplies Limited Registration number 2002/029821/06) JSE share code: ISB ISIN Number: ZAE000116828 ("Insimbi" or "the company") Closure of Secondary Aluminium Smelter The aluminium plant in Dunswart, Benoni Industrial has continued to face various operational challenges throughout the current financial year and as a result has continued to make losses. Accordingly the board of Insimbi has taken a decision to close the plant until further notice to avoid any further negative impact on the group. The core business of Insimbi has made a strong recovery since the beginning of the current financial year, as evidenced in our Interim 2010 results released today and the consolidated results to date, notwithstanding the negative impact of the Dunswart aluminium plant, are promising. 8 October 2010 Designated Advisor PricewaterhouseCoopers Corporate Finance (Pty) Ltd (Registration number 1970/003711/07) Date: 08/10/2010 14:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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