PSE Circular for Brokers No. 040-98
PSE Circular for Brokers No. 040-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 4, 1998
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February 4, 1998 PSE CIRCULAR FOR BROKERS NO. 040-98 February 2, 1998 SECURITIES & EXCHANGE COMMISSION SEC Building, EDSA Mandaluyong City Attention : Money Market & Opns . PHILIPPINE STOCK EXCHANGE Tektite Tower, Ortigas Center Pasig City Attention : Monitoring Department Gentlemen : Further to our letter of November 25, 1997, I am reporting to you certain corporate developments: a. The corporation has sold its liquid alum business to KEMWATER PHIL. CORP., a joint venture company established by Chemical Industries of the Philippines, Inc. (CIP), Chemphil Manufacturing Corp. (CMC) and KEMIRA CHEMICALS OY of Finland. CMC is a 100% subsidiary of LMG Chemical Corp. (LMG); b. LMG has entered into a Contract To Sell 3,392 sq.m. of Pasig land within the Chemphil Compound in Pasig with KEMWATER to enable the latter to put up a state-of-the-art aluminum sulfate plant. c. LMG will supply sulfuric acid to KEMWATER. Sulfuric acid is a raw material in the production of aluminum sulfate. d. LMG will supply water, power and steam to KEMWATER. It will also render plant support services to KEMWATER. Thank you. Very truly yours, (SGD.) ROLANDO P. NAVARRO Vice-President
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