Business
Calumet Specialty Products Partners, L.P. Provides Operations and Liquidity Update
Partnership continues operations as an essential industry, maintains stable liquidity and outlines additional responses to COVID-19 pandemic INDIANAPOLIS,
About this update from Calumet, Inc
[{"type":"text","content":"Partnership continues operations as an essential industry, maintains stable liquidity and outlines additional responses to COVID-19 pandemic\n\n\nINDIANAPOLIS, April 9, 2020 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership\" or \"Calumet\"), a leading independent producer of specialty hydrocarbon and fuels products, today released information regarding the Partnership's operations, in addition to updates to the Partnership's balance sheet strength and liquidity position. Additionally, the Partnership provided updated guidance on 2020 capital budget expectations. \n\"We continue to closely monitor the impacts of the COVID-19 pandemic, and our foremost concern is the safety of our employees and the communities we serve,\" said Steve Mawer, Chief Executive Officer of Calumet. \"Our specialty and fuels production facilities have continued to operate with limited disruption across our supply chain. The federal guidelines and state orders put in place to protect the public have deemed our businesses as essential. Our products and formulations are vital to a diverse set of markets, from healthcare and personal care products, to food processing and water treatment. While the demand landscape remains uncertain, to date our businesses have not experienced a significant step down in customer demand.\" \nMawer continued, \"In early March, we implemented our business continuity plans, and our essential staff at the plants have remained on-site and are continuing production. The rest of our employees are supporting our production operations remotely. We continue to operate in accordance with the guidelines of federal, state and local government agencies, as well as public health organizations, to maintain a safe and healthy work environment for our employees. I want to thank all of our employees for their commitment and exemplary effort through this uncertain time as we work to meet the needs of our customers and our communities. While this is a challenging economic environment, the strategic actions that Calumet has taken over the past several years to reposition our portfolio with a core focus on specialty products and to improve business operations through self-help, have made our business more resilient, less volatile, and better positioned to succeed.\"\nBusiness Transformed, Specialty-focused C...