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Chemtrade Logistics Income Fund Announces Declaration of Force Majeure at North Vancouver Chlor-Alkali Plant
Chemtrade Logistics Income Fund Announces Declaration of Force Majeure at North Vancouver ...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\nChemtrade Logistics Income Fund Announces Declaration of Force Majeure at North Vancouver Chlor-Alkali Plant\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 20, 2017\n\n\n\nLost production for estimated two weeks will impact Chemtrade Electrochem's EBITDA \n\n\n\nTORONTO, Nov. 20, 2017 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) announced today that a recurrence of an operating issue has resulted in an unplanned interruption of production at its North Vancouver chlor-alkali plant. The plant is an asset of Chemtrade Electrochem, formerly Canexus Corporation (\"Canexus\"). The issue was discovered on November 12, 2017 and Chemtrade expects the plant to be offline for approximately two weeks.  \n\nPrior to this issue, during 2017, the plant had been setting production records. This unscheduled shutdown is the result of an issue known at the time the plant was acquired as part of the purchase of Canexus and is scheduled to be permanently fixed in April, 2018 during a planned turn around.  Once the plant is operational after the current shutdown, Chemtrade expects the plant to resume its pre-incident production run rates until the planned April shutdown.  \n\nThe plant had experienced a similar problem in November 2016 resulting in an unscheduled shutdown to temporarily fix the issue. Once Chemtrade assumed ownership of this plant, it determined the permanent fix required and ordered the necessary long lead time materials.  These materials are scheduled to arrive in December and then must be prepared for installation in April 2018.   \n\nAs a result of the outage, Chemtrade has declared force majeure for the supply of caustic soda, chlorine and hydrochloric acid. Chemtrade estimates the EBITDA impact of this incident will range between $7 million and $8 million, the majority of which will be realized in Q4 2017.\n\nAbout ChemtradeChemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world...