Tessenderlo unit Wymar to restructure, cut jobs

07 January 2009 15:36  [Source: ICIS news]

TORONTO (ICIS news)--Belgium-based chemicals and plastics firm Tessenderlo said on Wednesday that its subsidiary Wymar, an extruder and plastics profile producer, plans to restructure operations and may cut 46 jobs.

The restructuring was focused on Wymar’s plant in Oeselgem, Belgium, it said.

“The grounds for this decision rest with the structural macroeconomic downturn on the various markets where Wymar operates, combined with the negative impact of the financial crisis on the investment behaviour of end consumers, new-build and renovation,” the company said.

Wymar's markets in central and eastern Europe were also affected by the downturn, it added.

Wymar has operations in 20 European countries.

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By: Stefan Baumgarten
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