NPX Vietnam facility damaged by fire
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Nuplex Industries Limited (NPX) | 3:41 pm, Monday 20 October 2008 | NPX | 2.980 |
 -0.010 |
(-0.33%) |
Nuplex Industries Limited announced today that on October 17, 2008, a fire occurred at its manufacturing plant in Bien Hoa, Dong Nai Province, Vietnam. There were no injuries to staff or other personnel. The site was evacuated and closed down in accordance with standard operating procedures.
The cause of the fire remains under investigation and is not being treated as suspicious. It occurred during a transfer of raw materials from bulk storage to an intermediate bulk container.
Resin manufacturing facilities, the major investment on site, are unaffected. Damage, while substantial, was restricted to raw material pumps, a maintenance shed, the masterbatch manufacturing facility and some inventory.
Resin production will recommence as soon as regulatory authorities provide the appropriate clearance. However, capacity will be constrained through loss of support equipment for up to three months. It is anticipated that masterbatch production will return to full capacity within six months.
In the interim, Nuplex will support customers using spare capacity in other Asia-Pacific plants to maintain service levels across all product lines.
While assessment of the cost of the damage is incomplete, the preliminary estimate is in the vicinity of US$2 million. The company is fully insured.
Nuplex Industries Limited is a leading international manufacturer and distributor of resins for coatings and composites, and specialty products for the construction, chemical, plastic and life sciences industries. It has manufacturing operations in ten countries on four continents. Australia generates the largest share of earnings followed by Europe. The company also enjoys significant contributions from New Zealand, Asia and the Americas. Nuplex is listed on the Australian and New Zealand exchanges and has a market capitalisation of A$350 million (NZ$440 million).
For further information, please contact:
John Hirst, Nuplex Group Managing Director, +61 417 133 334
Media enquiries:
Ashley Rambukwella, Financial & Corporate Relations, +612 8264 1004 / +61 407 231 282
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