A Procter & Gamble (PG) - Get Report manufacturing plant in Oxnard, California that makes Charmin toilet paper is getting back up running Wednesday following an early Monday morning fire that blazed for two hours.
The fire, which impacted 10% of the sprawling complex, reportedly started at 2 A.M. March 30 before being put out at 4 A.M. by the more than 50 firefighters from three area departments that responded to the call.
“Production was not halted. We are still producing and shipping Charmin and Bounty product," a spokesperson for P&G said, according to the Cincinnati Business Courier. "What is important is that Charmin is on the way."
Toilet paper has been scarce in recent weeks as consumers are panicking to buy the product in bulk and leaving store shelves bare.
The behavior is odd because the supply of toilet paper is not under threat, according to one expert.
"It’s not like suddenly all the toilet paper factories in the world are burning down,” said Willy Shih, a professor at Harvard Business School who studies manufacturing supply chains. “They’re still cranking this stuff out.”
Ironically, that hypothetical scenario could have happened Monday.
Employees were working at the plant when the fire started, according to reports, though no injuries were reported as a result of the blaze.
The factory, which P&G purchased in 1973, is allowed to stay open as an essential business in California, which has ordered the closing of all non-essential businesses due to the coronavirus pandemic.
Since 1993, the company has poured over $200 million into upgrading machinery at the facility, which houses hundreds of employees. according to the CBC.
P&G, along with Walmart WMT, was one of the lone Dow equities that is trading in the green Wednesday, rising 1.3%. P&G is also one of the best ten stocks in the Dow Jones YTD for 2020 but the stock remains a hold according to TheStreet Quant Ratings.