06 September 2006 18:11 [Source: ICIS news]
TORONTO (ICIS news)--?xml:namespace>
“The Dow Chemical closures in
Dow announced last week it will close all its chemicals plants at
Huget called on
If policies are not reversed,
Dow’s planned closures in the Sarnia region and southwestern Ontario will go far beyond the 340 employee and 40 contractor job losses that were announced by the company, Huget said. “This is huge in terms of lost pay-roll alone ... it will take some Can$20m ($18m/€14m)/year out of the local economy."
Huget said that the closures could eventually affect more than 1,000 jobs in the area. “We estimate that for every job lost there [are] an additional three jobs [that] will be impacted; maybe not necessarily lost, but negatively impacted.”
Huget said while Dow’s presence at the
The Canadian Chemicals Producer Association (CCPA) said that it was alarmed that at the peak of the business cycle there was little new investment on the horizon for Ontario's chemical industry. CCPA added that key to growth in the chemicals and petrochemicals industry is access to energy and feedstock resources, and pointed to the planned Alaska and Mackenzie Delta natural gas pipeline projects as well as liquefied natural gas as future feedstock options.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections