POSTED: Thursday, December 27, 2012 - 11:30pm
UPDATED: Thursday, December 27, 2012 - 11:34pm
Lake Charles, La — PPG Industries in Lake Charles today declared a force majeure for its vinyl chloride monomer after a Christmas Eve fire shut down the production unit.
A force majeure is a common clause in contracts that essentially frees PPG from liability or obligation when an extraordinary event or circumstance happens.
PPG expects the cost from equipment damage and lost sales will be between $5 to $8 million dollars this year, and think it could extend into 2013.
One employee was transferred to the hospital and is currently being treated.