DALLAS, Aug. 29, 2017 (GLOBE NEWSWIRE) -- CSW Industrials (NASDAQ:CSWI), a diversified industrial growth company with well-established, scalable platforms and domain expertise across three segments: Industrial Products; Coatings, Sealants & Adhesives; and Specialty Chemicals, today provided an update on the Company’s facilities and operations in light of Hurricane Harvey.
Joseph B. Armes, CSW Industrials’ Chief Executive Officer said, “Our business has a rich history in the Houston area and we are proud to be a part of this vibrant and resilient community. Our thoughts and prayers are with all those who have been affected by Hurricane Harvey, and we are committed to being a part of the rebuilding efforts in the future." Armes continued, “At this time, our primary objective is the safety and support of our employees. As a result, and consistent with directives from the Houston area authorities, we have elected to temporarily halt operations at our Houston area facilities so that our colleagues can avoid potentially dangerous travel and attend to their homes and families."
CSW Industrials has two facilities located near Houston, which include an administration and manufacturing facility serving the Industrial Product’s segment and an office and warehouse facility serving the Coatings, Sealants & Adhesives segment. Currently these facilities are not damaged as a result of the storm but are temporarily closed as widespread flooding continues to affect the area. The company plans to reopen the facilities as soon as local conditions permit, but does not currently expect the facilities to reopen prior to Wednesday morning, August 30, 2017.
CSW Industrials is actively monitoring the situation and will provide further updates as necessary. During this time, the Company has diverted all order activity to its other production facilities.
Additionally, the Company has set up a GoFundMe account, which can be accessed here: gofundme.com/cswi-employee-tx-disaster-relief, CSW Industrials will match a portion of donations made by employees to support colleagues and their families who have been affected by Hurricane Harvey.
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About CSW Industrials
CSWI is a diversified industrial growth company with well-established, scalable platforms and domain expertise across three segments: Industrial Products; Coatings, Sealants & Adhesives; and Specialty Chemicals. CSWI’s broad portfolio of leading products provides performance optimizing solutions to its customers. CSWI’s products include mechanical products for heating, ventilation and air conditioning (“HVAC”) and refrigeration applications, coatings and sealants and high performance specialty lubricants. Markets that CSWI serves include HVAC, general industrial markets, rail car and locomotive, plumbing, commercial construction, oil and gas, mining, electrical, steel and transportation.
Michael Callahan, ICR