Irish blast wrecks Hickson factory

An explosion at one of Hickson International's Irish chemical plants completely destroyed a pharmaceutical production site yesterday. Two staff were slightly hurt in the blast at Ringaskiddy, near Cork.

Michael Rowley, finance director, said: 'The explosion caused a fire which was brought under control fairly quickly before flaring up again. It is too early to speculate on the cause.'

He added that damage was limited to one building but said it would be some time before the site was operating again. Hickson shares closed yesterday 14p down at 194p.

The fire is the second in a year to hit a Hickson company. Last September a fire at Hickson Welch in Castleford, Yorkshire, killed five people when chemicals ignited during a cleaning operation. Last week Hickson Welch was fined pounds 250,000 plus pounds 150,000 costs over the accident.

Mr Rowley said last year's accident had resulted in a pounds 500,000 increase in the group's pounds 3m annual insurance bill. The company was fully covered for any material damage and consequential costs of yesterday's blast.

Until production resumes, deliveries of the pharmaceutical compounds made at Ringaskiddy will be made from stocks. Hickson's customers include many leading drugs companies.

Hickson acquired the Ringaskiddy site a year ago as part of the Ir pounds 24.1m acquisition of Angus Fine Chemicals. Angus started production in 1986 and first made a profit in 1991. The explosion destroyed the smaller of its two production facilities