Fabchem unit receives clearance to resume partial production
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FABCHEM China's Shandong Yinguang Technology Co has received official green light from authorities to resume production of explosives products excluding boosters, the maker of explosive initiation systems, boosters and detonating cords announced on Thursday.
Clearance to resume trading boosters will require additional safety inspections, Fabchem said.
Authorities temporarily stopped 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.
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