Due to two hurricanes Katrina and Rita, American Chemicals showed a decrease in sales and revenues in the latest announced third-quarter financial statements. However, some experts said that the impact of the hurricane may promote the development of chemical industry in the United States.
The above inference comes from Berkeley, New Jersey, USA
A report by Heights' Eldib engineering and research company. The report stated that the rebuilding and restoration of houses and infrastructure along the Gulf of America will undoubtedly require a large amount of construction materials, including the purchase of chemicals, plastics, fibers, and elastomers worth $5 billion to $10 billion.
At present, the size of losses suffered by various chemical companies due to hurricanes varies. Cabot estimates that the company’s revenue will be reduced by US$5 million due to equipment damage and sales reduction caused by the impact of Hurricane Rita. Praxair said that although the direct losses caused by the two hurricanes on the company’s equipment were small, the costs of business disruption, plant closure and restart caused by the impact of the hurricane, coupled with higher energy prices and transportation costs, increased. The company’s operating income was reduced by 15 to 18 million US dollars. Sterling Chemicals said that during the shutdown of Rita, a fire in Texas City, Texas, damaged one of the company's styrene production lines, resulting in a loss of US$10 million. Although there is still a considerable distance from the "Rita" raging land, BASF said that the company's Altimira plant in Mexico could only stop working because it could not obtain raw materials for the production of styrene products. The disruption of the transportation network has forced the company to declare that products such as polystyrene, ABS and styrene-butadiene copolymers cannot be properly supplied due to force majeure.
The above inference comes from Berkeley, New Jersey, USA
A report by Heights' Eldib engineering and research company. The report stated that the rebuilding and restoration of houses and infrastructure along the Gulf of America will undoubtedly require a large amount of construction materials, including the purchase of chemicals, plastics, fibers, and elastomers worth $5 billion to $10 billion.
At present, the size of losses suffered by various chemical companies due to hurricanes varies. Cabot estimates that the company’s revenue will be reduced by US$5 million due to equipment damage and sales reduction caused by the impact of Hurricane Rita. Praxair said that although the direct losses caused by the two hurricanes on the company’s equipment were small, the costs of business disruption, plant closure and restart caused by the impact of the hurricane, coupled with higher energy prices and transportation costs, increased. The company’s operating income was reduced by 15 to 18 million US dollars. Sterling Chemicals said that during the shutdown of Rita, a fire in Texas City, Texas, damaged one of the company's styrene production lines, resulting in a loss of US$10 million. Although there is still a considerable distance from the "Rita" raging land, BASF said that the company's Altimira plant in Mexico could only stop working because it could not obtain raw materials for the production of styrene products. The disruption of the transportation network has forced the company to declare that products such as polystyrene, ABS and styrene-butadiene copolymers cannot be properly supplied due to force majeure.
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