Winter Park, Florida 20/05/2016 - The Olin Brass integrated brass and copper mill in East Alton, Illinois, is running at reduced production due to an equipment failure impacting an intermediate segment of the plants’s production process, the company's parent Global Brass and Copper Holdings said.
"The Olin Brass manufacturing and maintenance teams have developed a comprehensive corrective action plan and anticipate full production capacity to be restored by the week of June 6, 2016," Global Brass said in a statement.
"Accordingly, Olin Brass customers may experience a temporary disruption in supply, with possible adjustments to their delivery schedules. To mitigate disruptions in supply, the Olin Brass management team is working proactively with customers and has secured support from other strip industry participants," it added.
However, the company did reaffirmed its 2016 guidance to ship 510 million pounds to 545 million pounds with an adjusted EBITDA to range from $115 million to $125 million, assuming the current timeline for repairs is met.