28 October 2011 18:45 [Source: ICIS news]
HOUSTON (ICIS)-- The decline of US demand for chlor-alkali is not a seasonal event, but a direct result of lower worldwide demand driven by macroeconomic woes, said Olin CEO Joseph Rupp on Friday.
Rupp made the comments during a third-quarter earnings conference call.
In addition, railcar freight rates are expected to continue to increase as they did in the 2011 third quarter, he added.
The US-based producer’s chlor-alkali segment recorded third-quarter earnings of $76.7m (€54m), despite an unplanned outage at its Charleston, Tennessee, facility, which had an estimated impact of $3m, as well as planned outages at two of its customers and weaker-than-expected chlorine demand late in the quarter.
The Charleston facility was shut down in early September as a result of flooding caused by Tropical Storm Lee.
The two customers that experienced outages are expected to resume operations next week and by the end of November, Rupp said.
Olin has maintenance turnarounds planned for the fourth quarter, but Rupp did not specify dates or locations.
($1 = €0.70)
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