Pioneer Announces Unanticipated Reduction in Operating Rate
July 13 2005 - 6:51PM
PR Newswire (US)
Pioneer Announces Unanticipated Reduction in Operating Rate
HOUSTON, July 13 /PRNewswire-FirstCall/ -- Pioneer Companies, Inc.
(NASDAQ:PONR) announced today that it has reduced the operating
rate at its chlor-alkali production facility in St. Gabriel,
Louisiana as a result of a reduction in demand for chlorine from
certain customers. Those customers have indicated that they
anticipate a return to normal demand in early August. Beginning in
mid-June the volume of chlorine produced and sold at the St.
Gabriel facility was reduced as a result of mechanical problems at
the customers' production facilities. Production and sales were
reduced by approximately 2,000 ECUs in June as a result. Each ECU,
or electrochemical unit, consists of 1.1 tons of caustic soda and 1
ton of chlorine. The reduced purchases from these customers during
the month of July will result in further operating reductions that
are expected to reach approximately 3,100 ECUs for the month. "Our
chlor-alkali production facility in Becancour, Quebec also
experienced an operating problem in June, resulting in the loss of
the production and sale of approximately 3,000 ECUs. That problem
has been resolved," Michael Y. McGovern, Pioneer's President and
Chief Executive Officer, stated. Pioneer, based in Houston,
manufactures chlorine, caustic soda, bleach, hydrochloric acid and
related products used in a variety of applications, including water
treatment, plastics, pulp and paper, detergents, agricultural
chemicals, pharmaceuticals and medical disinfectants. Pioneer owns
and operates four chlor-alkali plants as well as other downstream
manufacturing facilities in North America. Certain statements in
this news release are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act. Forward-
looking statements relate to matters that are not historical facts.
Such statements involve risks and uncertainties, including, but not
limited to, the risks and uncertainties described in Pioneer's
filings with the Securities and Exchange Commission. Actual
outcomes may vary materially from those indicated by the
forward-looking statements. DATASOURCE: Pioneer Companies, Inc.
CONTACT: Gary Pittman of Pioneer Companies, Inc., +1-713-570-3200
Web site: http://www.piona.com/
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