26th Mar 2012 15:00
Press Release | 26 March 2012 |
Sorbic International plc
("Sorbic" or the "Company")
Update on Ulanqab City manufacturing facility
Sorbic International plc (AIM:SORB), the third largest sorbates producer in China, provides the following update on its manufacturing facility in Ulanqab City, Inner Mongolia.
On 23 March 2012, the Company received official notification from the Ulanqab, Inner Mongolia local authority that the industrial zone, in which Sorbic's manufacturing facility is situated, has been identified as an area that may be rezoned as a city zone for urban planning. The Board believes that any zone reclassification in Ulanqab City will require the full approval of the Inner Mongolian government as it would effect a number of businesses operating in the industrial zone.
The Board has requested additional clarity on the proposals submitted and upon receipt, it will then evaluate what the possible implications are to the Company, prior to updating the market again.
- Ends -
For further information: | |
Sorbic International plc | Tel: +44 (0)7768 031 454 |
John McLean, Chairman | www.sorbicinternational.com |
finnCap | |
Geoff Nash / Ben Thompson Simon Starr (broking) | Tel: +44 (0) 20 7600 1658 |
Media enquiries:
Abchurch Communications | |
Joanne Shears / Mark Dixon | Tel: +44 (0)20 7398 7709 |
www.abchurch-group.com |
Notes to Editors: www.sorbicinternational.com
About Sorbic International plc
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets, across 46 countries and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals
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