Buckeye’s Florida Plant Temporarily Closed Due to Dryer Drum Failure
Release Date: 6/18/2012 9:05:14 AM
No Injuries Incurred; Investigation Begun to Determine Cause
Plans
Underway to Resume Production
MEMPHIS, Tenn.--(BUSINESS WIRE)--Jun. 18, 2012--
Buckeye Technologies Inc. (NYSE:BKI) today announced that on Sunday,
June 17, Buckeye’s Florida wood cellulose fibers facility near Perry,
Florida, experienced a significant failure of a steam drum on the number
2 paper machine causing damage to multiple drums and structural damage
to the paper machine building and structure. Fortunately, there were no
injuries to any personnel working in the area. Following the incident,
which occurred about 5:20 p.m. EDT, the plant was shut down in an
orderly manner. A team at the plant, including contractor resources and
structural engineers, immediately began an investigation to determine
the root cause of the drum failure. While it is too early to know the
extent or timing to return the plant to normal operations, Buckeye
management will have more details on the incident later in the week and
will provide updates on plans for resuming production.
Buckeye resources are working with all stakeholders including customers,
suppliers and employees to manage and minimize the impact of this outage
to the supply chain and to operations.
Buckeye Chief Executive Officer John Crowe stated, “Buckeye can and will
repair the damage to the number 2 machine and the building. The safety
of people is our highest priority, and we are thankful there were no
injuries in this significant incident.”
Buckeye, a leading manufacturer and marketer of specialty fibers and
nonwoven materials, is headquartered in Memphis, Tennessee, USA. The
Company currently operates facilities in the United States, Germany and
Canada. Its products are sold worldwide to makers of consumer and
industrial goods.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities
laws that involve risks and uncertainties, including but not limited to
economic, competitive, governmental, and technological factors affecting
the Company's operations, financing, markets, products, services and
prices, and other factors. For further information on factors
which could impact the Company and the statements contained herein,
please refer to public filings with the Securities and Exchange
Commission.
Source: Buckeye Technologies Inc.
Buckeye Technologies Inc.
Steve Dean, 901-320-8352
Senior Vice
President and Chief Financial Officer
www.bkitech.com