Williams Cos. (WMB -2.7%) sinks on word of a major explosion and fire at its olefins chemical...


Williams Cos. (WMB -2.7%) sinks on word of a major explosion and fire at its olefins chemical plant in Geismar, La. Local reports say there are injuries at the facility. The plant produces ~1.3B lbs./year of ethylene and 90M lbs./year of polymer grade propylene. Westlake Chemicals (WLK +3.5%), whose shares are spiking on the news, is seen as a beneficiary of the event.

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Comments (2)
  • Van Hyder
    , contributor
    Comments (172) | Send Message
     
    Oddly enough I was reading their annual report last night and they claim to have insurance of $610MM per occurrence after a $2MM per occurrence deductible. They also have supplemental insurance on damage to property through Oil Insurance Limited. Not sure if this will be larger than these coverages but it will certainly help.
    13 Jun 2013, 10:57 AM Reply Like
  • MB
    , contributor
    Comments (74) | Send Message
     
    This is not good for C2 demand.
    13 Jun 2013, 04:06 PM Reply Like
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