Yahoo Finance Wilmar's Ukraine port terminal damaged by Russian missile, repair to take six months (update)
The company will assess the damage after the fire caused by the missile strike is put out
Wilmar International has confirmed on April 21 that its terminal in Ukraine has been hit by a Russian missile.
The attack on the terminal, located at the Black Sea port of Pivdennyi, was first reported by local media.
As part of its integrated agri-food business, Wilmar operates a chain of facilities and processing plants across multiple markets.
In an update announcement on April 22, the company says it will take around six months to rebuild tanks destroyed by the missile, and that there will be no material impact on its FY2024 results.
"Operations will resume as soon as the relevant clearances are obtained from the local authorities, which is expected in the coming weeks," says the company on April 22.
The terminal, owned by its 80%-held subsidiary Delta Wimar Ukraine, was hit on April 19.
Earlier that day, the company announced the appointment of Singapore's former foreign minister George Yeo as one of its independent directors.
"We are relieved to report that there were no casualties as a result of this unfortunate incident," says Wilmar in an announcement to the stock exchange.
"An assessment of the extent of the damage caused will be carried out as soon as the fire at the facility is put out.
"We will continue to prioritise the safety of our people and the integrity of our operations. A statement containing more details of the incident will be issued in due course," the company adds.
Wilmar shares closed at $3.40 on April 19, up 0.59% for the day.
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