Fabchem China, the maker of explosive initiation systems, boosters and detonating cords, says subsidiary Shandong Yinguang Technology Co has been given official approval from authorities to resume production of explosives products.
The approval however excludes boosters.
Clearance to resume trading boosters will require additional safety inspections, said Fabchem.
Authorities temporarily halted all production in October after an explosion at an unrelated booster plant in Linyi City of Shandong Province killed nine and injured two.
Fabchem issued a profit warning on Oct 30 in light of the temporary stoppage.
The company expects a negative impact on its financial performance for the quarter ending December and for the fiscal year ending March 2016.
Fabchem China last traded at 32 cents.
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The approval however excludes boosters.
Clearance to resume trading boosters will require additional safety inspections, said Fabchem.
Authorities temporarily halted all production in October after an explosion at an unrelated booster plant in Linyi City of Shandong Province killed nine and injured two.
Fabchem issued a profit warning on Oct 30 in light of the temporary stoppage.
The company expects a negative impact on its financial performance for the quarter ending December and for the fiscal year ending March 2016.
Fabchem China last traded at 32 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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