McVicar temporarily suspends Hongbo production

Trading Symbol: MCV

TORONTO, Aug. 2, 2013 /CNW/ - McVicar Industries Inc. ("McVicar") announces that its chemical subsidiary Hongbo Chemical Co. Ltd. ("Hongbo"), has temporarily suspended its production due to a change in environment and safety regulations enforced by local governments on chemical manufacturers in non-chemical industrial parks. The revised regulations are intended to reduce environmental pollution and improve workplace safety. As a result, chemical companies in non-chemical industrial parks are required to upgrade their facilities to comply with the new regulations. Hongbo is assessing and preparing a detailed implementation plan to satisfy the government requirements. As this is also a low time in purchase orders from the main Western customers due to economic factors and competition from other south Asian countries, Hongbo will take this opportunity to reduce inventory from the factory.

This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

SOURCE McVicar Industries Inc.

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