Home / Knowledge / News / Textiles / Buckeye's Florida facility back in operation
Buckeye's Florida facility back in operation
21
Jun '10
Buckeye Technologies Inc. announced that its Foley Plant in Perry, Florida, which manufactures specialty wood cellulose and fluff pulp, is back in operation following a power failure and electrical surge that occurred last Thursday, June 17. The power failure was triggered by a malfunction in a main incoming electrical line from a power provider and caused an unplanned complete shutdown of the facility that damaged numerous pieces of equipment. Purchased power has been fully restored to the facility, and one of the plant's two production lines resumed operation at reduced rates on Sunday. Company officials are targeting for the second line to resume operation by Wednesday.

Buckeye Chairman and CEO John B. Crowe said, "We appreciate the efforts of our employees and contractors who literally have worked around the clock in a safe manner since Thursday's power failure and surge to test motors and other equipment, to identify the damaged equipment and then to replace it. Replacement equipment has been ordered and shipped in on an emergency basis. We will be working during the week to minimize the impact of this event on our customers. The production of the Foley Plant remains sold out, and our highest priority is to continue safely returning the plant to full capacity in compliance with our environmental permits so that we can meet our customers' needs.”

The Company indicated that it presently is unable to fully quantify the financial impact of the event. However, depending on the timing of returning to full production, the Company estimates that the financial impact of the outage, excluding the effect of any insurance proceeds, could be in the range of a $4 to $5 million reduction in pretax operating income for the quarter ending June 30. This would result in earnings in the range of 24 to 27 cents per share for the quarter. The Company reported that it has property loss and business interruption insurance with a single $2 million deductible and has received a preliminary report from its insurance broker that the event is a covered loss.

Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.

Buckeye Technologies Inc

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X