Industry Spared Major Damage From Gustav

摘要

Hurricane Gustav, which moved through the Gulf Coast States last week, was a major storm, but luckily not the catastrophic event that Hurricane Katrina was three years ago. Residential and commercial damages from Hurricane Gustav will trigger an estimated $4 billion to $10 billion in insurance claims, it was reported, and damages to natural gas and oil rigs in the Gulf of Mexico were said to be minimal. Gustav's effect on the industry was relatively mild. Temple-Inland reported that its containerboard mills in Bo-galusa, Louisiana and Orange, Texas curtails production on Sunday,August 31 "to allow adequate time for a safe evacuation from the storm for all employees, and enable orderly shutdowns." Downtime from the affected containerboard mills is expected to be approximately 18,000 tons, the company said.