09 October 2002 16:59 [Source: ICIS news]
HOUSTON (CNI)--Eastman Chemical said Wednesday it is closing two ink varnish plants and terminating 13 workers to further consolidate its coatings, adhesives, specialty polymers and inks manufacturing operations.
The Kingsport, Tennessee-based company said it is shutting plants in LaVergne, Tennessee and at Rexdale in Ontario, Canada. Eastman will transfer production to a plant in Pleasant Prairie, Wisconsin.
The company did not specify capacity of the plants nor a date for the closing but said in a statement it expects the consolidation to be completed by mid-2003.
The two sites were acquired when Eastman Chemical purchased Lawter International in 1999.
Charges related to the plant closures are "not material" to the company's financial result, the company said in a statement.
Said Brian Ferguson, Eastman's chairman and chief executive officer: "These changes are a continuation of our efforts to consolidate manufacturing facilities in order to be a more efficient and cost-effective supplier to our customers."
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