Itaconix PLC Production Interruption from Storm Damage (2750R)
04 Novembro 2021 - 4:00AM
UK Regulatory
TIDMITX
RNS Number : 2750R
Itaconix PLC
04 November 2021
Itaconix plc
("Itaconix" or the "Company")
Production Interruption from Storm Damage
Itaconix (AIM: ITX) (OTCQB: ITXXF) announces a temporary
interruption to production at its Stratham, New Hampshire
facility.
The interruption was caused by water damage from severe
rainstorms that occurred during a roofing construction project
undertaken by the building owner. Repairs needed to water damaged
production equipment will shortly be underway. Production is
currently expected to recommence during December.
Itaconix expects to meet all customer orders on time from
existing finished goods inventories except for its Itaconix(R)
TSI(TM) 322 detergent polymer, leading to some impact on revenues
over the coming weeks. The Company will work with its key TSI(TM)
322 detergent polymer customers on the potential for using an
alternative TSI(TM) 322 detergent polymer grade that is held in
stock.
Insurance held by the Company, including business interruption
cover, together with the insurance of the construction contractor
and the building owner are expected to cover the costs and losses
incurred.
- Ends -
Enquiries:
Itaconix +1 (603) 775 4400
John R. Shaw/Laura Denner
Belvedere Communications +44 (0) 20 3687 2756
John West/Llew Angus
finnCap +44 (0) 20 7220 0500
Ed Frisby/Abigail Kelly/Milesh Hindocha
- Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
About Itaconix
Itaconix uses its proprietary plant-based polymer technology
platform to produce and sell specialty ingredients that improve the
safety, performance, and sustainability of consumer products. The
Company's current ingredients are enabling and leading new
generations of products in detergents, hygiene, and hair care.
Itaconix's contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.
www.itaconix.com
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constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
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(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
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November 04, 2021 03:00 ET (07:00 GMT)
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