16 December 2008 11:27 [Source: ICIS news]
LONDON (ICIS news)--Dow Chemical has closed three plants producing latex for the paper and carpet industries due to poor market conditions, the US chemicals company said on Tuesday.
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Dow said it should be able to redeploy about two thirds of the plants’ 59 employees and was looking at cost-effective ways to dispose of the assets.
“This decision [takes into] into consideration the latex business and rapidly changing market conditions, such as the competitiveness of the raw material position, the small scale and the age of the facilities as well as the outlook for the global latex market,” said general manager for Dow Emulsion Polymers Philippe Raynaud de Fitte.
Dow is the largest global supplier of latex, operating 14 other production facilities worldwide.
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