Fabchem China

Fabchem China: Issued a profit warning for 3Q13 ending 31 Dec 2012, noted that the Group’s profit is expected to be significantly lower for the third quarter. Company mentioned the slowdown was due mainly to lower market-driven prices of ammonium nitrate and the increase in raw materials prices for 3Q13, as compared to 3Q12. The slowdown in China's economy has resulted in a decrease in mining and infrastructure development activities which led to the weakening market conditions for our explosive-grade ammonium nitrate business activities. Our explosive-grade ammonium nitrates are sold to explosives manufacturers who produce explosives mainly for mining and infrastructure development activities.