Elementis Plc (LON:ELM) has told investors that operations at its North Carolina based Chromium facility are on hold due to disruption in the area caused by Hurricane Florence.
Announcing the temporary shutdown, Elementis said that the facility had not sustained any significant structural damage though there was flooding around the plant. It expects to resume operations in October, subject to local conditions, and the company said it anticipates the impact to group earnings will be ‘modest’. Trading across the remainder of the group remains ‘in line with expectations’, it added.
READ: Elementis cuts up-front price of Mondo Minerals acquisition amid investor unrest
“Our team at Castle Hayne have led a first-class response to the extreme conditions resulting from Hurricane Florence,” said Paul Waterman, Elementis chief executive.
“The shutdown of the facility was well managed and we anticipate production to restart as conditions in the surrounding area return to normal over the coming weeks.
“Most importantly all of our employees are accounted for and I would like to thank them for their diligent preparation and hard work during this period.”
In Wednesday’s early deals, Elementis shares were down 2p or 0.75% to 265.2p.