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

|About: Williams Companies Inc (WMB)|By:, SA News Editor

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.