Buckeye Technologies Inc. (BKI) announced Monday morning that its Florida wood cellulose fibers facility near Perry, Florida was shut down on Sunday, June 17. The plant experienced a significant failure of a steam drum on the number 2 paper machine causing damage to multiple drums and structural damage to the paper machine building and structure.
Buckeye Technologies gapped open lower Monday, but was range-bound for the bulk of the session. Shares finished down by 2.63 at $26.47, with volume at over a 10-month high. The stock slipped below a one-month range and set an 8-month low.
For comments and feedback: editorial@rttnews.com