ZRX Zirax

 

TIDMZRX 
 
RNS Number : 1062E 
Zirax PLC 
15 December 2009 
 

 
 
 
 
 
Zirax plc 
("Zirax" or the "Company") 
 
 
Trading update 
 
 
Zirax, the AIM quoted speciality chemical company focused on the development, 
production and sale of oilfield process chemicals and de-icing solutions, today 
announces an update on current trading. 
 
 
At the time of the release of the interim results on 25 September 2009 we 
remained confident that demand for the Company's products was still strong, 
despite the difficult trading conditions experienced in the first half. In many 
areas of the business, particularly for de-icing products, this remains the 
case, although even in this sector it is not as good as we anticipated. However, 
Rosneft, Zirax's principal customer in the oil and gas segment, historically 
accounting for approximately 50% of volumes, has recently placed lower orders 
than previously anticipated and has now indicated that it will not be placing 
further orders this year. 
 
 
Given this reduction in volumes we are now anticipating that sales in the second 
half of 2009 will only be marginally ahead of the first half and this will 
result in further losses being incurred for the second half. The level of losses 
in the second half is expected to be below those experienced in the first half 
and the Company remains confident that it has sufficient financial resources for 
its current needs. 
 
 
 
 
Enquiries: 
 
 
+--------------------------+--------------------------+-------------------------+ 
| Zirax                    | Fenlon Dunphy, CEO       |  T: +44 (0)20 7868 1694 | 
+--------------------------+--------------------------+-------------------------+ 
|                          |                          |                         | 
+--------------------------+--------------------------+-------------------------+ 
| Westhouse Securities     | Tim Metcalfe             |  T: +44 (0)20 7601 6100 | 
+--------------------------+--------------------------+-------------------------+ 
|                          | Martin Davison           |                         | 
+--------------------------+--------------------------+-------------------------+ 
|                          |                          |                         | 
+--------------------------+--------------------------+-------------------------+ 
| Cardew Group             | Tim Robertson            |  T: +44 (0)20 7930 0777 | 
+--------------------------+--------------------------+-------------------------+ 
|                          | David Roach              |                         | 
+--------------------------+--------------------------+-------------------------+ 
|                          | Daniela Cormano          |                         | 
+--------------------------+--------------------------+-------------------------+ 
 
 
About Zirax 
Zirax is a speciality chemical company manufacturing and supplying oilfield 
process chemicals and de-icing solutions to a global customer base. Zirax is the 
second largest supplier of calcium chloride pellets globally and the leading 
supplier in the Eastern Hemisphere. Zirax is quoted on AIM section of the London 
Stock Exchange (ticker: ZRX), is headquartered in London and has supply sources 
based in Western Europe and Russia.  More information is available at 
http://www.zirax.com 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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