Saudi Methanol Chemicals Company denies dumping charges

Riyadh, July 04, SPA --The Saudi Methanol Chemicals Company
(CHEMANOL) denied today that it is facing any dumping cases in the
light of its methanol production.

CHEMANOL, previously known as Saudi Formaldehyde Chemical Company
Ltd. (SFCCL), is one of the Saudi petrochemical sector companies.

In a statement released this morning, the Company said despite the
current efforts to support the Saudi export against unjustified
dumping cases, CHEMANOL is not a party to these cases and that it did
not previously received an notification from any party.

The Company affirmed that its Methanol production is not for
exports, adding that it an essentially a downstream venture for the
production of a variety of petrochemical products.

--SPA