21 Oct 2005
Boston, Massachussetts -- Cabot Corp. has restarted production at one of its two carbon black plants in Louisiana hit by Hurricane Rita and accounted for all of its employees and their families.
Cabot has resumed production at its Ville Platte, Louisiana, plant but the Franklin, Louisiana, plant will be out of commission for about two weeks as the firm cleans up and repairs the facility, which experienced "significant" flooding.
The company estimates the impact on earnings of Hurricane Rita could be as high as $5 million when lost sales, plant and equipment repairs and inventory damage are taken into account. In addition, Cabot said, feedstock and natural gas costs have continued to climb in the days since Rita, and higher utility costs and inventory draw-downs are anticipated.
From Rubber & Plastics News (A Crain publication)
Press release from Cabot (US)
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