Business
Production Interruption from Storm Damage
Production Interruption from Storm Damage.
About this update from Itaconix Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2750R\n Itaconix PLC\n 04 November 2021\n \n \n \n \n Itaconix plc\n \n \n \n \n \n (\"Itaconix\" or the \"Company\")\n \n \n \n \n \n Production Interruption from Storm Damage\n \n \n \n \n \n Itaconix (AIM: ITX) (OTCQB: ITXXF) announces a temporary interruption to production at its Stratham, New Hampshire facility. \n \n \n The interruption was caused by water damage from severe rainstorms that occurred during a roofing construction project undertaken by the building owner. Repairs needed to water damaged production equipment will shortly be underway. Production is currently expected to recommence during December.\n \n \n Itaconix expects to meet all customer orders on time from existing finished goods inventories except for its Itaconix® TSI™ 322 detergent polymer, leading to some impact on revenues over the coming weeks. The Company will work with its key TSI™ 322 detergent polymer customers on the potential for using an alternative TSI™ 322 detergent polymer grade that is held in stock. \n \n \n Insurance held by the Company, including business interruption cover, together with the insurance of the construction contractor and the building owner are expected to cover the costs and losses incurred. \n \n \n - Ends -\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Itaconix\n \n \n \n \n +1 (603) 775 4400\n \n \n \n \n \n \n John R. Shaw/Laura Denner\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Belvedere Communications\n \n \n \n \n +44 (0) 20 3687 2756\n \n \n \n \n \n \n John West/Llew Angus\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n finnCap\n \n \n \n \n +44 (0) 20 7220 0500\n \n \n \n \n \n \n Ed Frisby/Abigail Kelly/Milesh Hindocha - Corporate Finance\n \n \n Andrew Burdis/Sunila de Silva - ECM\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About Itaconix\n \n \n Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company's current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix's contributions to the global low carbon economy are recognised ...