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Westlake (NYSE:WLK) -6.2% in Wednesday’s buying and selling, tumbling to its lowest in additional than three months, after it declared pressure majeure on chlorine and all grades of caustic soda all through its U.S. system, S&P World Platts reported.
Westlake (WLK) stated its chlor-alkali manufacturing “has been instantly and adversely impacted because of the sudden and unanticipated failures of essential processing tools,” based on a letter seen by S&P World.
Westlake (WLK) didn’t specify the websites affected by tools failures, however S&P World stated the chlor-alkali unit in Natrium, West Virginia, has skilled tools points since concluding a latest turnaround and was working at diminished charges.
S&P World additionally reported the corporate has confronted brine high quality issues from a third-party supplier at its Geismar, Louisiana, chlor-alkali unit, and has launched a complex-wide turnaround at its Plaquemine, Louisiana, web site, together with the chlor-alkali facility.
Westlake’s (WLK) pressure majeure got here a day after prime chlor-alkali producer Olin (OLN) stated its Freeport, Texas, plant would quickly idle a “significant slice” of its ethylene dichloride and associated chlor-alkali manufacturing.
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