Misleading News Clarification

On Sunday night we suffered a fire in one of our baghouses - the equipment that cleans the air from one of our aluminum recycling furnaces. Local firefighters responded amazingly fast and prevented the fire from spreading to any buildings or surrounding equipment. We are extremely grateful for the effort of all emergency responders - many of whom are volunteers. While the fire caused significant damage to the one baghouse, news reports of building damage were inaccurate. The cause of the fire is still being investigated, but replacement plans are underway and we don't foresee significant customer impact.  The baghouse is attached to just one of our furnaces, and that furnace was planned to be down starting this coming weekend for annual maintenance. While that furnace will not operate again until the baghouse is replaced, we have been fully operational on all other production lines since Monday morning.

Once again, we'd like to thank our local firefighters for their work - many of them had a long night before heading to their day jobs Monday morning.  From the entire Spectro Alloys family - Thank you!

 

Vendor/Customer Update

We had a fire that damaged one of our baghouses last night (7/23). Most importantly, no one was injured. The fire department was able to contain the fire and avoid collateral damage to other equipment or structures. Our summer cold clean was scheduled to begin this Saturday and will instead begin immediately for furnace # 3. All other equipment is already back to normal operation. Our built ahead inventory for the planned downtime will limit the impact of lost production on customers, but we may need to adjust some inbound delivery appointments due to the schedule changes this week. Once we assess damage and finalize plans for repairs we will share more information. In the meantime, if you have any questions or concerns, please feel free to call or email anyone on our sales or purchasing team, or I can be reached on my cell phone number below. Thank you for your concern and understanding.

Sincerely,

Luke Palen

President

Spectro Alloys Corp

lpalen@spectroalloys.com

612-558-8115