20 January 2009 12:46 [Source: ICIS news]
By Julia Meehan
LONDON (ICIS news)--Invista’s planned closure of its UK adipic acid and nylon 6,6 plants in Wilton, Teesside, has left other producers in shock and is indicative of an industry in trouble, sources said on Tuesday.
“The Invista story gives a stronger message to our customers that the industry [adipic acid and nylon] is in serious trouble,” said a major adipic acid and nylon producer.
“It is difficult to say what the impact will be because demand is so weak at the moment. Some of Invista’s customers have contacted us, but for the moment there is no panic,” added the source.
On Tuesday 13 January it was reported that Invista, a subsidiary of privately owned ?xml:namespace>
The closure would mean the loss of 300 jobs, according to reports.
A source at the company confirmed that the consultation process, expected to take up to three months, had started with the unions. “Until then there is nothing more we can share,” added the source.
Invista has not made a formal statement on the closure, which is understood to be part of a global restructure due to the economic downturn. Its facilities in the
“The news was completely unexpected,” said a
Invista has the capacity to produce 270,000 tonnes/year of adipic acid at the site, according to ICIS plants and projects data. It credits itself as being one of the world’s largest integrated producers of polymers and fibres, primarily for nylon, spandex and polyester applications.To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections