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Statement

2014-08-08

Due to recent Kaohsiung pipeline blasts, LCY stopped PP production at Da-she site in Kaohsiung on August 8th, as ordered by the city’s Economic Development Bureau to conduct a comprehensive review to improve the safety of petrochemical feedstock pipelines within and outside the plant and the manufacturing equipment. LCY respects and follows this official decision. To protect the lives and safety of citizens, LCY is fully prepared to cooperate with the inspection, review and improvement of petrochemical feedstock pipelines within and outside the plant and the manufacturing equipment.

However, LCY is concerned about the 5,000 people impacted by Da-she plant’s shutdown, including our employees and their families. As a listed company, LCY is accountable for taking care of our employees and their families; as well, LCY has to be responsible to our shareholders. LCY earnestly hopes production can be resumed immediately after we have finished review and improvement and submitted the inspection reports with pipeline maintenance schedule to Kaohsiung City Government, for taking care of our employees.

LCY Chemical Corp.
August 8th 2014



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