Printer Friendly

TODHUNTER INTERNATIONAL REPORTS FIRE DAMAGE CONTAINED

 WEST PALM BEACH, Fla., Sept. 16 /PRNewswire/ -- Todhunter International, Inc. (NASDAQ-NMS: TODH) today announced that it had experienced a fire, which has now been contained, at its Lake Alfred, Fla. distillery facility during the late afternoon and evening of Sept. 15. The company believes that no serious injuries were experienced, and the cause of the fire is currently unknown. Damage from the fire, which is fully covered by insurance, is currently estimated at $3 million (including inventory), and was confined to a tank storage facility area, as well as a barrel warehouse for aging rum. The fire did not affect the distillery itself.
 The company does not expect, as a result of the fire, to experience any interruption or reduction in its level of production of alcohol or other operations. The company plans to shift the portion of its distillery operations conducted in Lake Alfred to the company's sister distillery located in Auburndale (five miles from Lake Alfred) until the damage is repaired. The company's bottling plant, winery and vinegar operations located in Lake Alfred were unaffected. Nevertheless, the company's insurance coverage includes business interruption.
 The company's deductible portion of the damage is $50,000, and its policy limits are $50 million. At June 30, the company had current assets of approximately $31 million.
 -0- 9/16/93
 /CONTACT: A. Kenneth Pincourt Jr., president of Todhunter International, 407-655-8977/
 (TODH)


CO: Todhunter International, Inc. ST: Florida IN: FOD SU:

RC-JB -- FL004 -- 2637 09/16/93 11:09 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 16, 1993
Words:247
Previous Article:ROBERT JEPSON APPOINTED TO WWP'S BOARD OF DIRECTORS
Next Article:FPL ANNOUNCES TENDER OFFER FOR $340 MILLION OF BONDS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters