MagIndustries Reports that Ship Loaders Were Damaged at the Eucalyptus Fibre Congo Operations in Pointe-Noire, Republic of Congo
2010-07-20
MagIndustries Corp. recently reported that an accident has occurred during ship-loading at the Eucalyptus Fibre Congo operations in Pointe-Noire, Republic of Congo. EFC is a wholly owned unit of MagForestry Inc. which in turn is wholly owned by the Company.
EFC’s two ship loaders were damaged by the sudden movement of a vessel during loading. MagIndustries expects to file an insurance claim for the repair costs and loss of business.
A technical evaluation of the damage, repair costs and repair timeframe is underway, but until repairs are completed no eucalyptus wood chip exports can be undertaken by EFC.
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