Riyadh - Mubasher: Nama Chemicals Company's board approved on Tuesday reducing the company's assets by SAR 655 million.
The company appointed an international expertise house to set value for the assets, due to the decrease of the profit margin in the last years as a result of low prices, according to a bourse filing.
The decrease in the profit margin is attributed to higher global production than the demand and lower Euro's exchange rate, adding to imposing 6.5% import fees on goods from Saudi Arabia to Europe, which led to the usage of the production capacity of the Epoxy Resins plant.
