Global Brass and Copper Holdings, Inc. Reports Mineral Oil Spill at its Somers Thin Strip Plant
23 Januar 2018 - 12:46AM
Business Wire
Somers Thin Strip, a division of GBC Metals, LLC, (a subsidiary
of Global Brass and Copper Holdings, Inc.), reported a leak of
mineral oil at its Waterbury, Connecticut facility that occurred on
January 20, 2018. The mineral oil leak was quickly identified
by the Somers team, who then acted immediately to stop the leakage
and notify the appropriate municipal and environmental
authorities.
No injuries have been reported. Mineral oil was released into
the sewer system and the neighboring Naugatuck River. Somers
personnel, the Waterbury fire department, the US EPA, the
Connecticut DEEP and Clean Harbors, Somers remediation contractor,
responded immediately and have been working collaboratively to
remediate the leak as quickly as possible.
About Global Brass and Copper
Global Brass and Copper Holdings, Inc., through our wholly-owned
principal operating subsidiary, Global Brass and Copper, Inc., is a
leading, value-added converter, fabricator, processor and
distributor of specialized non-ferrous products in North America.
We engage in metal melting and casting, rolling, drawing,
extruding, welding and stamping to fabricate finished and
semi-finished alloy products from processed scrap, virgin metals
and other refined metals. Our products include a wide range of
sheet, strip, foil, rod, tube and fabricated metal component
products sold through our Olin Brass, Chase Brass and A.J. Oster
subsidiaries. Our products are used in a variety of applications
across diversified markets, including the building and housing,
munitions, automotive, transportation, coinage,
electronics/electrical components, industrial machinery and
equipment and general consumer markets.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” that
involve risks and uncertainties. You can identify forward-looking
statements because they contain words such as “believes,”
“expects,” “projects,” “may,” “would,” “should,” “seeks,”
“approximately,” “intends,” “plans,” “estimates,” “anticipates” or
similar expressions that relate to our strategy, plans or
intentions. All statements the Company makes relating to its
estimated and projected earnings, margins, costs, expenditures,
cash flows, growth rates and financial results or to its
expectations regarding future industry trends are forward-looking
statements. In addition, the Company, through its senior
management, from time to time makes or may make forward-looking
public statements concerning its expected future operations and
performance and other developments. These forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may change at any time, and, therefore, the
Company’s actual results may differ materially from those that it
expected. The Company derives many of its forward-looking
statements from its operating budgets and forecasts, which are
based upon many detailed assumptions. While the Company believes
that its assumptions are reasonable, the Company cautions that it
is very difficult to predict the impact of known factors, and, of
course, it is impossible to anticipate all factors that could
affect the Company’s actual results. Actual results may differ
materially from these expectations due to various risks and
uncertainties, including: the impact of our indebtedness; the
effect of our ability to borrow money; our ability to implement our
business strategies, including acquisition activities; our ability
to continue implementing our balanced book approach to
substantially reduce the impact of fluctuations in metal prices on
our earnings and operating margins; shrinkage from processing
operations and metal price fluctuations, particularly copper; the
condition of various markets in which our customers operate,
including the housing and commercial construction industries; our
ability to maintain business relationships with our customers on
favorable terms; the impact of a loss in customer volume or demand
or a shift by customers of their manufacturing or sourcing
offshore; our ability to compete effectively with existing and new
competitors; the effects of industry consolidation or competition
in our business lines; operational factors affecting the ongoing
commercial operations of our facilities, including technology
failures, regulatory approvals, permit issues, unscheduled
blackouts, outages or repairs or unanticipated changes in energy
costs; supply, demand, prices and other market conditions for our
products; our ability to accommodate increases in production to
meet demand for our products; government regulations relating to
our products and services, including proposed EPA regulations
regarding the registration and marketing of bactericidal copper
products; our ability to maintain effective internal control over
financial reporting; our ability to realize the planned cost
savings and efficiency gains as part of our various initiatives;
workplace safety issues; our ability to retain key employees;
adverse developments in our relationship with our employees or the
future terms of our collective bargaining agreements; rising
employee medical costs; our ability to maintain the confidentiality
of our proprietary information, to protect the validity,
enforceability or scope of our intellectual property rights and
manage litigation regarding our intellectual property rights;
fluctuations in interest rates; and restrictive covenants in our
indebtedness that may adversely affect our operational
flexibility.
More detailed information about these and other risks and
uncertainties are contained in the Company’s filings with the
Securities and Exchange Commission, including under “Risk Factors”
and elsewhere in our Annual Report on Form 10-K filed with the
Securities and Exchange Commission and our reports filed with the
Securities and Exchange Commission from time-to-time, including
Quarterly Reports on Form 10-Q, copies of which may be obtained by
visiting the Company’s Investor Relations website at
http://ir.gbcholdings.com or the SEC’s website at www.sec.gov. All
forward-looking information in this press release is expressly
qualified in its entirety by these cautionary statements. All
forward-looking statements contained in this press release are
based upon information available to the Company on the date of this
press release.
In addition, the matters referred to in the forward-looking
statements contained in this press release may not in fact occur.
Accordingly, investors should not place undue reliance on those
statements. The Company undertakes no obligation to publicly update
or revise any forward-looking statement as a result of new
information, future events or otherwise, except as otherwise
required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180122006691/en/
Global Brass and Copper Holdings, Inc.Christopher J.
KodoskyChief Financial Officer(847) 240-4700orFTI ConsultingMark
Barbalato(212) 850-5707
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