Dow closes three latex plants due to poor market conditions

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.

Located at King’s Lynn, England, Varennes in Canada and Pittsburg, US, the plants had already been idled in the second half of 2008 due to slowing demand and soaring energy and production costs. 

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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By: Mark Watts
+44 20 8652 3214

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