July 8, 1990 |
The Arco Chemical Co.'s inquiry into the plant explosion that killed 17 people has been stymied by a court order issued Saturday at the request of a victim's wife. In response to her negligence lawsuit against the company, a judge granted a temporary restraining order preventing Atlantic Richfield Co. and Arco Chemical from making any changes to the accident scene. Atlantic Richfield, based in Los Angeles, owns 83% of Arco Chemical.
June 23, 1987
Arco Chemical Co. is seeking to arrange $700 million in credit to be used to make a special payment to its parent, Atlantic Richfield Co., the companies said. At the same time, the board of the parent company approved looking into the possibility of selling 19.9% of Arco Chemical to the public. It was announced last week that management was investigating the plan. Repayment of the $700 million in credit, being arranged by Morgan Guaranty Trust Co.
July 9, 1990 |
The widow of a millwright killed in an explosion at the Arco Chemical Co. in Channelview, Tex., said her husband called her half an hour before the blast, saying workers restarting equipment there were afraid it might explode. Lori Davis, 26, said her husband, Michael, had been working at the plant Thursday for Austin Industrial Inc., a subcontractor at Arco Chemical. Davis, 24, called home about 11:15 p.m., she said. Davis died in a blast minutes later along with 16 others.
June 16, 1992 |
Arco Chemical to Take $56-Million Charge: The company, controlled by Los Angeles-based Atlantic Richfield Co., said it expects to take the second-quarter charge in selling its 50% ownership of Yukong Arco Chemical Ltd., a troubled venture that Arco has held with Korea's largest oil refiner, Yukong Ltd. The subsidiary, Arco Chemical Co., which is 83.4%-owned by Arco, announced that the charge will cover the equity write-down and a payment to the Korean firm releasing it from further obligations.
April 17, 1996 |
Arco Chemical Plans Facility in Europe: The plant will be built in Rotterdam, Netherlands, with an undisclosed equity partner to produce plastic products. Arco Chemical Co., based in Newton Square, Pa., also said it plans to upgrade its plastic raw materials plant in Channelview, Texas. The Channelview plant and a related project will replace a less efficient unit that produces ethylbenzene, a raw material for plastics. The projects will use up the majority of Arco Chemical's $2.