12 December 2008 10:11 [Source: ICIS news]
MOSCOW (ICIS news)--Leading Russian polyvinyl chloride (PVC) producer Sayanskhimplast on Friday denied local media reports which claimed the company was laying off personnel and cutting production volumes.
Sayanskhimplast's PVC, chlorine and caustic soda facilities continue work at normal rates of their respective capacities, the company said in a statement.
The company is not laying off staff and has no lay-off plans, it said.
However, Sayanskhimplast CEO Nikolai Melnik conceded that the company did face repercussions of the economic crisis.
As demand falls and sale prices go significantly down, Sayanskhimplast would have to cut costs and some of its investment programmes, he was quoted as saying in the statement.
Earlier this month, Sayanskhimplast and ?xml:namespace>
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In April 2008, Sayanskhimplast employed
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