25 March 2002 18:18 [Source: ICIS news]
HOUSTON (CNI)--Privately held Ameripol Synpol Corporation (ASC) will close its styrene butadiene rubber (SBR) production plant in Odessa, Texas within the next 60 days and lay off 164 in a move to streamline operations, officials said Monday.
Edwin Schmidt, vice president and general manager of Port Neches, Texas-based ASC, said in a statement that the company is looking into several options for the plant but no decision has been made. Ameripol Synpol acquired the Odessa facility in 1997.
Schmidt said idling the Odessa plant is one of a series of steps the company is taking to rationalise production, streamline its workforce and focus investments in ASC's remaining facilities.
He added: "The production being idled will be transferred into our larger Port Neches synthetic rubber plant, where additional investments are occurring," he said. "These moves will result in a financially stronger company with improved cash flows and positioned to better support our customers."
Ameripol Synpol, formed in 1992, produces synthetic rubber products at plants in Port Neches and Charlotte, North Carolina. Its engineered carbons subsidiary, which is becoming part of a new joint venture with Degussa, produces carbon black at Baytown, Orange and Borger, Texas.
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