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Axiall lowers Q3 EBITDA view, cites accelerated turnarounds, market prices

Axiall Corporation updated its outlook for the third quarter from the view provided on August 1. The company said, “Since that time, we elected to extend our planned VCM and PVC turnarounds to further improve reliability. Also, we accelerated two turnarounds from the fourth quarter of 2013 to the third quarter in our aromatics and chlorinated derivatives businesses. We expect the combined impact of the operating plan changes in maintenance and the associated reductions in operating rates to be approximately $10M-12M of lower third-quarter Adjusted EBITDA, as compared to our original expectation. Additionally, current market prices and margins in our chlor-alkali and vinyls businesses are trending lower than our expectations on August 1, which we believe will have a further impact on third quarter Adjusted EBITDA."