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Stock Market & Financial Investment News

News Breaks
December 20, 2013
18:53 EDTAXLLAxiall reports no injuries from chemicals plant fire
Axiall Corporation announced that at approximately 1:40 p.m. CT, a fire occurred in the vinyl chloride manufacturing area of the company’s Lake Charles chemicals complex in Louisiana. The fire was extinguished at approximately 2:38 p.m. CT. There were no injuries to plant personnel. Authorities issued a shelter in place order and closed I-10. At approximately 2:52 p.m., authorities lifted the shelter in place order, and they reopened I-10 at approximately 2:55 p.m. Axiall’s investigation into the cause of the fire is continuing, and the company is coordinating with the Louisiana Department of Environmental Quality and other authorities.
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April 14, 2014
18:58 EDTAXLLOn The Fly: After Hours Movers
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17:01 EDTAXLLAxiall sees Q1 adjusted EBITDA $65M-$70M
Axiall Corporation announced that the damage from the December 20 fire at its PHH vinyl chloride monomer manufacturing facility at the company’s chemicals complex in Lake Charles, Louisiana, has been repaired and the facility has resumed operations. The facility is expected to reach full operating rates in May. On February 19, the company described its expectation that the first quarter would be impacted by three significant headwinds: the PHH incident, severe winter weather and a sequential increase to normal maintenance spending. “During this period of lower production and sales, we increased maintenance spending by an additional approximately $10M compared to what we described February 19 to prepare our plants to run at high operating rates for the remainder of the year,” the company said. Based on these factors, the company expects to report $65M-$70M of adjusted EBITDA for Q1.

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