18 June 2008 10:36 [Source: ICIS news]
LONDON (ICIS news)--Dow Chemical plans to idle two North American latex plants due to slowing demand and soaring energy and production costs, the chemicals major said late on Tuesday.
Dow said redundancies at the plants’ 35-strong workforce in ?xml:namespace>
Both facilities would be fully idled by the end of 2008, with Dow able to supply customers from four other latex plants in the region, it said.
“Due to the reduction in industry demand and extreme energy and production costs, the decision was necessary,” said Philippe Raynaud de Fitte, general manager of Dow’s emulsion polymers business .
“We believe we can better service the North American customer base by leveraging alternative manufacturing facilities and reduce overall structural costs by idling these locations.”
In the last seven months Dow also announced the closure of latex plants in
No capacities or financial details were disclosed.
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