By NATHALIE TADENA
Ferrellgas Partners said the Blue Rhino propane tank production facility in Tavares, Florida experienced an explosion Monday night, and said the cause of the incident is under investigation.
The company said all 24 employees onsite at the facility during the explosion have been fully accounted for by officials. Ferrellgas said six employees were injured and transported to local hospitals for treatment and evaluation. One employee has since been discharged.
The company said it immediately put into effect its contingency plans upon learning of the explosion. Ferrellgas said it doesn't expect the incident to affect customers or any other aspects of the business.
Ferrellgas, best known for its Blue Rhino grilling tanks, has improved its results in recent quarters, thanks primarily to its ongoing cost reduction initiatives. But revenue has continued to slide as wholesale propane prices decline and a warmer winter weakened heating sales.
In June 2013, Ferrellgas reported its fiscal Q3 earnings soared as the propane distributor reported increased propane sales volumes, while margins improved sharply thanks to lower propane costs.
Dow Jones Newswires