Company News
June 16, 2022
More Chlor-alkali Woes
Westlake declares force majeure on chlor-alkali throughout U.S. system
Jun. 15, 2022 8:06 PM ETWestlake Corporation (WLK)OLNBy: Carl Surran, SA News Editor1 Comment
Westlake (NYSE:WLK) -6.2% in Wednesday’s trading, tumbling to its lowest in more than three months, after it declared force majeure on chlorine and all grades of caustic soda throughout its U.S. system, S&P Global Platts reported.
Westlake (WLK) said its chlor-alkali production “has been directly and adversely impacted due to the sudden and unanticipated failures of critical processing equipment,” according to a letter seen by S&P Global.
Westlake (WLK) did not specify the sites affected by equipment failures, but S&P Global said the chlor-alkali unit in Natrium, West Virginia, has experienced equipment issues since concluding a recent turnaround and was operating at reduced rates.
S&P Global also reported the company has faced brine quality problems from a third-party provider at its Geismar, Louisiana, chlor-alkali unit, and has launched a complex-wide turnaround at its Plaquemine, Louisiana, site, including the chlor-alkali facility.
Westlake’s (WLK) force majeure came a day after top chlor-alkali producer Olin (OLN) said its Freeport, Texas, plant would temporarily idle a “significant portion” of its ethylene dichloride and related chlor-alkali production.
June 16, 2022
More Chlor-alkali Woes
Westlake declares force majeure on chlor-alkali throughout U.S. system
Jun. 15, 2022 8:06 PM ETWestlake Corporation (WLK)OLNBy: Carl Surran, SA News Editor1 Comment
Westlake (NYSE:WLK) -6.2% in Wednesday’s trading, tumbling to its lowest in more than three months, after it declared force majeure on chlorine and all grades of caustic soda throughout its U.S. system, S&P Global Platts reported.
Westlake (WLK) said its chlor-alkali production “has been directly and adversely impacted due to the sudden and unanticipated failures of critical processing equipment,” according to a letter seen by S&P Global.
Westlake (WLK) did not specify the sites affected by equipment failures, but S&P Global said the chlor-alkali unit in Natrium, West Virginia, has experienced equipment issues since concluding a recent turnaround and was operating at reduced rates.
S&P Global also reported the company has faced brine quality problems from a third-party provider at its Geismar, Louisiana, chlor-alkali unit, and has launched a complex-wide turnaround at its Plaquemine, Louisiana, site, including the chlor-alkali facility.
Westlake’s (WLK) force majeure came a day after top chlor-alkali producer Olin (OLN) said its Freeport, Texas, plant would temporarily idle a “significant portion” of its ethylene dichloride and related chlor-alkali production.
June 15, 2022
Olin Idling Freeport Production
Olin to idle part of chlor-alkali, EDC capacity at Texas plant on weak demand
Jun. 15, 2022 10:43 AM ETOlin Corporation (OLN)By: Carl Surran, SA News Editor
Olin (NYSE:OLN) -7.1% in Wednesday’s trading after saying it is temporarily curtailing a significant part of ethylene dichloride and related chlor-alkali production at its Freeport, Texas, plant, and epoxy and related upstream inputs production at its Freeport and Guaruja, Brazil, facilities, citing weaker than expected epoxy resin demand in North America and South America.
Olin (OLN) also said it has restarted half of its chlor-alkali unit at its Plaquemine, Louisiana, complex, with the rest of the plant expected to return to operations in early August.
The Freeport facility continues to operate at a reduced level of power generation, and the company expects part of the power generation will be restored in Q4.
June 15, 2022
Olin Idling Freeport Production
Olin to idle part of chlor-alkali, EDC capacity at Texas plant on weak demand
Jun. 15, 2022 10:43 AM ETOlin Corporation (OLN)By: Carl Surran, SA News Editor
Olin (NYSE:OLN) -7.1% in Wednesday’s trading after saying it is temporarily curtailing a significant part of ethylene dichloride and related chlor-alkali production at its Freeport, Texas, plant, and epoxy and related upstream inputs production at its Freeport and Guaruja, Brazil, facilities, citing weaker than expected epoxy resin demand in North America and South America.
Olin (OLN) also said it has restarted half of its chlor-alkali unit at its Plaquemine, Louisiana, complex, with the rest of the plant expected to return to operations in early August.
The Freeport facility continues to operate at a reduced level of power generation, and the company expects part of the power generation will be restored in Q4.
June 15, 2022
Plaquemine Update
OLIN PROVIDES OPERATIONS UPDATE
Tue, June 14, 2022 at 4:05 PM·6 min readIn this article:
CLAYTON, Mo., June 14, 2022 /PRNewswire/ — Olin Corporation (NYSE: OLN) announced that half of its Plaquemine, Louisiana chlor alkali facility has returned to operation, which has been down since April 2022, with the remainder expected to return to operations in early August 2022. Olin’s Freeport, Texas facility continues to operate at a reduced level of power generation with the expectation that a portion of the power generation will be restored in fourth quarter 2022. In May, Olin resumed integrated epoxy resin production at its Stade, Germany facility, which had been temporarily idled in March 2022.
During second quarter 2022, Olin has experienced weaker than anticipated epoxy resin demand in North America and South America. Olin is unwilling to sell incremental volume into a poor-quality market and operating the epoxy resin facilities at less than 50% operating rates is impractical. As a result of these factors, Olin Corporation announced that it is temporarily curtailing epoxy and related upstream inputs production at its Freeport, Texas and Guaruja, Brazil facilities.
Olin Corporation also announced that it is temporarily curtailing a significant portion of its ethylene dichloride and related chlor alkali production at its Freeport, Texas facility. As Olin’s unique model adapts in real-time to globally prioritize system value; with the resumption of its Plaquemine, Louisiana operations; with high electrical power costs in Texas; and considering the poor-quality ethylene dichloride market conditions, Olin has decided to suspend this production.
COMPANY DESCRIPTION
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
Visit www.olin.com for more information on Olin.
https://finance.yahoo.com/news/olin-provides-operations-200500892.html
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