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December 27, 2012
08:18 EDTPPGPPG Industries declares force majeure for certain commodity chemicals
PPG Industries announced that it has declared force majeure for vinyl chloride monomer manufactured at the companys Lake Charles, La., chemicals complex and for all grades of liquid caustic soda on a systemwide basis. The company did not provide an end date for the force majeure. This force majeure is a direct result of a Dec. 24 fire at the Lake Charles chemicals complex. The fire affected the vinyl chloride monomer unit and did not result in any off-site environmental impact. One employee was transferred to the hospital and is currently being treated. The company added that the expense stemming from the equipment damage and lost sales volume will likely impact PPGs Commodity Chemicals segment earnings by $5M-$8M in 4Q12, and an incremental $2M-$5M in 2013 based on current information.
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