Continental’s Buchanan Plant Repair Outage
29 Enero 2019 - 3:15PM
Business Wire
On Thursday, January 24, Continental Building Products’
Buchanan, New York plant experienced a significant equipment
malfunction, resulting in an outage at the plant. No injuries
occurred from this event, and we thank all of our associates for
their efforts in keeping safety a first priority. In working to
resolve the outage, our teams have determined that the plant will
likely be shut down through the end of February 2019 to complete
repairs.
Our Buchanan plant has a capacity of approximately 650 million
square feet annually, which is approximately 20% of the Company’s
overall capacity. While the Buchanan plant is down, the Company’s
plants in Silver Grove, Kentucky and Palatka, Florida will continue
to deliver product to our customers. These plants will be able to
increase their production to offset a portion of the lost
production from the Buchanan plant. However, because of capacity
constraints, logistics and product availability, these two plants
will not be able to make up all of the lost production at the
Buchanan plant. Therefore, for the duration of the shutdown, we
expect to limit new orders for shipments normally delivered from
our Buchanan plant.
“We apologize to our customers for any disruptions caused by
these supply constraints,” said Jay Bachmann, President and Chief
Executive Officer. “We will do everything in our power to best
serve our customer base. This temporary outage in no way impacts
our long-term commitment and ability to serve our customers in the
market.”
Continental has standard insurance coverage that is intended to
respond to circumstances such as these, including business
interruption insurance. Our insurance coverage is designed to cover
not only the direct costs of the damaged equipment, but also the
lost contribution margin of the sales that otherwise would have
been made by the plant.
We look forward to providing an update on this matter as part of
our financial results update after the market closes on February
21, 2019.
About Continental Building Products
Continental Building Products is a leading North American
manufacturer of gypsum wallboard, joint compound and complementary
finishing products. The company is headquartered in Herndon,
Virginia with operations serving the residential, commercial and
repair and remodel construction markets primarily in the eastern
United States and eastern Canada. For additional information,
please visit www.continental-bp.com.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements may be identified by the use of words
such as “anticipate”, “believe”, “expect”, “estimate”, “plan”,
“outlook”, and “project” and other similar expressions that predict
or indicate future events or trends that are not statements of
historical matters. Forward-looking statements should not be read
as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by, which
such performance or results will be achieved. Forward-looking
statements are based on historical information available at the
time the statements are made and are based on management’s
reasonable belief or expectations with respect to future events,
and are subject to risks and uncertainties, many of which are
beyond the Company’s control, that could cause actual performance
or results to differ materially from the belief or expectations
expressed in or suggested by the forward-looking statements.
Forward-looking statements speak only as of the date on which they
are made, and the Company undertakes no obligation to update any
forward-looking statement to reflect future events, developments or
otherwise, except as may be required by applicable law. Investors
are referred to the Company’s filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K and
its Quarterly Reports on Form 10-Q for additional information
regarding the risks and uncertainties that may cause actual results
to differ materially from those expressed in any forward-looking
statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190129005853/en/
Investor Relations:Tel.: (703)
480-3980Investorrelations@continental-bp.com
Continental Building Pro... (NYSE:CBPX)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Continental Building Pro... (NYSE:CBPX)
Gráfica de Acción Histórica
De May 2023 a May 2024