Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Thursday 15 November, 2007

SQM

SQM Reports Preliminary Effects of Earthquake i...





SANTIAGO, Chile, November 15 /PRNewswire/ --

    Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM, SQMA; Santiago
Stock Exchange: SQM-B, SQM-A) announced today its preliminary evaluation of
the effects on the Company's productive facilities of the earthquake that
occurred yesterday in Northern Chile.


    
    - There were no accidents or injuries involving personnel at SQM's
      productive facilities.
    - The Company's productive operations were suspended yesterday due to the
      lack of electricity from the Northern Power Grid and to the need to
      perform safety checks on the equipment. The electric supply was
      reestablished early this morning.
    - Upon preliminary inspection, no significant structural damages were
      detected at the productive plants. The railway system connecting Maria
      Elena to Tocopilla suffered damages at specific points, and these
      damages will be repaired in the short term.
    - At the Salar de Atacama, operations were partially restarted yesterday
      using an auxiliary electricity supply. Likewise, operations were
      restarted at the lithium carbonate plant in the Salar del Carmen, near
      Antofagasta.
    - The Company plans to gradually restart operations at the other
      facilities during the day today.
    - Considerable damage occurred to a great number of houses, as well as to
      the hospital in the town of Maria Elena.
    - SQM has already begun the necessary work to enable the town of Maria
      Elena to return to normal as soon as possible.





The Company expects to have a definitive evaluation next week.

    SQM is an integrated producer and distributor of specialty plant
nutrition, industrial chemicals, iodine and lithium. Its products are based
on the development of high quality natural resources that allow the Company
to be leader in costs, supported by a specialized international network with
sales in over 100 countries. SQM's development strategy aims to maintain and
strengthen the world leadership in its three main businesses: specialty plant
nutrition, iodine and lithium.



    The leadership strategy is based on the Company's competitive advantages
and on the sustainable growth of the different markets where it participates.
SQM's main competitive advantages in its different businesses are:


    
    - Low production costs based on vast and high quality natural resources.
    - Know-how and its own technological developments in its various
      production processes.
    - Logistics infrastructure and high production levels that allow SQM to
      have low distribution costs.
    - High market share in all its core products.
    - International sales network, with offices in more than 20 countries and
      sales in over 100 countries.
    - Sales synergies due to the production of a complete range of specialty
      plant nutrition.
    - Continuous new product development according to the specific needs of
      its different customers.
    - Conservative and solid financial position





For further information contact:

    Patricio Vargas, +56-2-4252274 / +56-2-4252485 / [email protected]
Carolyn McKenzie, +56-2-4252074 / [email protected]



Web site: http://www.sqm.com

                                                         

a d v e r t i s e m e n t