Industrial fire: Chemical firm agrees to $92M settlement after plant fire

industrial fire

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Industrial Fire: Chemical firm agrees to $92M settlement after plant fire.

Japanese-owned chemical manufacturer Kuraray America Inc. announced Thursday that it has reached an agreement to settle several lawsuits stemming from a 2018 fire at the company’s plant in Texas for $92 million, the company announced in a release this week.

Some 160 contract workers and other individuals filed lawsuits against the company claiming that the fire in May 2018 left them with “physical and/or psychological injuries,” according to Kuraray.

The fire is thought to have started at the Pasadena, TX site when ethylene was released from a pressure safety valve in a process unit, Kuraray said at the time of the incident. Workers at the site were performing “heavy maintenance activities” when the fire ignited.

The settlement involves 13 plaintiffs, including the person who received the most severe injuries in the incident. Kuraray said its settlement will result in a JPY14 billion loss for the company in its financial results for the third quarter of its fiscal year.

“Kuraray will announce in due course at the time when reasonable estimates of additional losses become possible,” the firm said in the release. “Kuraray is currently investigating the impact on the financial result for the full year ending December of 2019, and will make an announcement promptly if any adjustment to the current financial forecast is considered to require.”

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