PPG Declares Force Majeure for Some Commodity ChemicalsOliver Biggadike
PPG says force majeure applies to vinyl chloride monomer made at Lake Charles, La., facility, all grades of liquid caustic soda on “systemwide basis.”
- Does not give end date
- Sees $5m-$8m effect on commodity chemicals segment earnings in 4Q12, incremental $2m-$5m effect in 2013
- Force majeure result of Dec. 24 fire at Lake Charles facility; says vinyl chloride monomer unit shut down, chlor-alkali oper. rates reduced
- PPG says no off-site environmental impact from fire
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