PPG declares force majeure on Lake Charles VCM and liquid caustic soda

27 December 2012 15:09  [Source: ICIS news]

LONDON (ICIS)--PPG Industries has declared force majeure for vinyl chloride monomer (VCM) manufactured at its Lake Charles, Louisiana, chemicals complex and for all grades of the liquid caustic soda it produces, it said on Thursday.

The force majeure declaration follows a fire on 24 December at the Lake Charles complex. The fire affected the VCM unit and one employee was transferred to hospital for treatment as a result of the incident, US-headquartered PPG said. It did not say, however, when the force majeure declarations on Lake Charles VCM and on liquid caustic soda might be lifted.

The negative impact of equipment damage sustained in the fire and on sales volumes is likely to be around $5m to $8m (€3m to €6m) in the fourth quarter of 2012 and an “incremental” $2m to $5m in 2013 based on current information, PPG said.

($1 = €0.76)

By: Nigel Davis
+44 20 8652 3214

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