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Williams Issues Statement on Chemical Plant Explosion

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Williams Companies (NYSE: WMB  ) has issued an official statement on the explosion at its Williams Geismar olefins plant in Geismar, La.

According to the company, the explosion occurred at 8:37 a.m. Central Daylight Time. Williams says it quickly isolated the unit affected, engaged emergency shut-down valves, and notified state and local authorities.

At the time of its statement, Williams was unsure of the extent of casualties at the plant, and was still accounting for its personnel. Subsequent news reports confirm that at least one plant employee was killed in the explosion, with dozens more injured.

The plant in question produced olefins, a class of hydrocarbons that includes ethylene and propylene, which are used to produce polymers for plastics (e.g. polyethylene and polypropylene). Other olefins-based petrochemicals include ethylene dichloride, ethylene oxide, propylene oxide, oxo alcohol, polystyrene, and acrylonitrile.

The Geismar plant is responsible for producing as much as 1.3 billion pounds of ethylene, and 90 million pounds of polymer grade propylene annually.


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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/24/2015 4:00 PM
WMB $37.14 Up +0.49 +1.34%
Williams Companies… CAPS Rating: ***