Industrial safety has been a topic of growing interest during the last decades, mainly because of the increased awareness and knowledge about safety issues. In this framework, the detailed reconstruction of the dynamics of an explosion (1 killed and 8 injured) occurred, on the 26th of June 1971, at Noury Italy (a plant dedicated to the production of chemicals for hardening plastics) is worth of interest and it could be used to improve actual safety guidelines related to the storage of peroxides. The accident happened before whatever Seveso Directive release. Therefore, root-causes reconstruction and related risk assessment were carried out making a comparison between a hypothetical plant layout at that time and a modern plant layout implemented with minimum safety systems, such as acoustic alarms and adequate bypass lines. The accident reconstruction was carried out by doing a deep literature research, mainly based on newspaper clippings of the time, to both re-model the accident at best and draw the most likely layout of the plant. The latter is of fundamental importance to carry out a risk assessment procedure by applying the Recursive Operability Analysis (ROA), which allows for a direct generation of the fault trees that can provide an easy estimation of the probability of occurrence of all unwanted events. This method was applied to the Noury Italy case study to show the criticalities of the storage equipment also underlining the possible improvements which could be implemented also in the ‘70s, therefore preventing the fatal explosion.