Al Sawari Chemical Co

# Template State Owned Enterprises- Company Overviews OCPA - Ministry of Industry & Minerals Note: All currency figures are in 000's of Iraqi Dinars unless otherwise noted. 1. General Information Company Name: Al Sawari State Company for Chemical Industries Sector Chemical Brief Description Manufacturer of resins, inks, fiberglass and rockwool. The company started 1994 as state owned enterprise. Revenue in 2002 (Iraqi Dinars '000s) 6480000 # of Employees 961 Annual Employee Salaries & Bonus 933333 (but paid 1,400,000 in 2002) Headquarters Address Baghdad, Taji (South of canal to the left) Director General Name Raisan Saddam Hassan Telephone # 5222619 Fax # Email Address Banks Used Rafidain Bank 2. Company Highlights Heavily looted Company. Fiberglass plant completely destroyed. Other plants stripped of motors and other parts. Resins factory was built by British company in 1990. Additional security needed before factory could re-open. No attempt has been made by management to clean up facilities. Raw materials received under protocols (750 ID/$ - effectively 50% off). Not known if forced to sell finished goods at below market prices. Allocated $150K USD for 2H 2003 operating budget and provided with zero mw off of grid. 3. Facilities Name Province City Grid Damage % Power Needs Fiberglass Plant Baghdad 1 Rockwool Plant Baghdad Taji cosmetic&furniture 1mw Resin Plant Baghdad Taji MB28529875 cosmetic&furniture 1mw Value of All Plant & Equipment Before War, and Initial Purchase Dates and Prices for Major Items Note: Company has a 2nd fiberglass plant unit built in 1989 by US firm, but never finished due to first gulf war.The value of the plant befor war was $16,666,667. Initial costs of existing plants unclear since exchange rate used is in calculation is unknown. 4. Products Product Name Unit Measurement Design Capacity Available Capacity 2002 Production 2002 Revenue Phenolic Resin Tons 500 4,850,000 for all Alkyid Resin Tons 1750 resins PVA Tons 900 Polyester Resin Tons 200 Ink Tons 293 519000 Rock Wool Tons 1000 445000 Fiberglass Tons 190 340000 Description of Importance of Products to Other Iraqi Industries 5. Customers Customer Name 2002 Revenue Subsidized (Y/N) Products Sold to Customer & Unit Pricing Private Sector 1680000 Resins 1,500 per ton Government Sectors 226667 Fiberglass products 3,000 per ton Other Private Sector 636000 Rock wool 500 per ton Unidentified Inks 2,500 per ton 6. Suppliers Supplier Name 2002 Purchases Subsidized (Y/N) Products Purchased and Unit Pricing No specific information provided on suppliers. Current Payment Terms From Suppliers Most bought under protocols - paid in advance. 7. Imports & Exports 2002 Import Markets for Raw Materials Jordan, Syria, Europe Potential Import Markets in Free Market 2002 Export Markets for Finished Products None Potential Export Markets in Free Market Jordan, Syria, Turkey 8. Competition Description of Competitive Situation No competition within Iraq, but plenty from imports. Market Share Description 50% of the Iraqi market, the rest was imported. 9. Summary of War Damage & Looting of Property & Equipment Description of Damage Fiberglass plant competely damaged. HQ was 100% looted and all windows broken, but foundation and walls of building are ok. Other plants had furnishings and other small items looted. Current Operating Status Not operating. Needs raw materials (questionable), electricity, water, repair funding and working capital to restart. Immediate Property & Equipment Needs To Restart Operations Spare parts and "completing parts" for looted items. Total Cost to Return to Pre-War Condition $3.3M USD