Monday, June 18, 2012

Buckeye (NYSE: BKI) shuts Florida plant after machine failure

Buckeye (NYSE: BKI) shuts Florida plant after machine failureShawshank, VA 6/18/12 (StreetBeat) – Specialty fiber maker Buckeye Technologies Inc (NYSE: BKI) temporarily shut its Florida plant after equipment failure on Sunday caused structural damage to machinery and the plant building.

No workers were injured in the incident at the facility, the company said in a statement.

A team at the plant has started investigating the cause of the equipment failure and expects to give details on the extent of damages and production resumption plans later this week.

Buckeye shares fell as much as 17 percent to $24.08 in early trade on Monday on the New York Stock Exchange.

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