Toronto-Chemtrade Logistics Income Fund said Oct. 3 that its Beaumont, Texas, regeneration/sulfuric acid plant is expected to be back online by late 2008. The plant was shut down following an explosion in the plant’s furnace on Aug. 21, 2008. It has taken longer than anticipated to submit and receive permits from regulatory authorities for the rebuilding work, which will delay the mid-November restart previously indicated. “Efforts to complete the permitting process are in progress, but are taking longer than we expected,” said Mark Davis, Chemtrade president and CEO. “We have begun repairs to the facility wherever feasible and are ready to begin further work once permitting has been completed. Despite not producing at Beaumont, we maintain our second quarter guidance that distributable cash for the 12 months ending June 30, 2009 should be substantially similar to the 12 month period ended June 30, 2008, or about $2.15 per unit.” Davis said that Chemtrade will provide a further update on Beaumont and other operations when it announces its third quarter results in early November.
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