Archer Daniels Midland Europe BV the main shareholder in Chemcel (Pvt) Ltd says that Chemcel (Pvt) Ltd is to cease its operations based on a number of considerations.

Archer Daniels Midland Europe currently holds 23.15 per cent equity of Chemcel (Pvt) Ltd and it is reflected in its books that the investment value of Rs. 272 million Chemcel (Pvt) Ltd has substantial cash balances and is currently estimated that that upon the liquidation of the company Chemanex PLC would be able to realize its investment value.