26 October 2012 09:02 [Source: ICB]
The company closed three of the plants - located in Estarreja, Portugal; Balatonfuzfo, Hungary; and Charleston, Illinois - at the end of September, a company spokesperson confirmed.
The fourth plant, located in Terneuzen, the Netherlands, was idled at the end of June. All four plants produced Dow's STYROFOAM extruded foam PS insulation products.
"STYROFOAM production at the Estarreja site in Portugal and Balaton site in Hungary has stopped at the end of September. The STYROFOAM plants in Charleston, Illinois, and Terneuzen, Netherlands respectively stopped production end of September and end of June," a company spokesperson said.
"Dow will continue to supply products to customers from the remaining stocks," she added.
The closures were initially announced in April this year, alongside plans to close a toluene diisocyanate (TDI) plant in Camacari, Brazil by April 2014. The closures will collectively result in the loss of around 900 jobs and save around $250m/year, according to the company.
At the time of the original announcement in April, the company said the three European factory closures were motivated by "ongoing volatility and headwinds" in western Europe, while the US closure was driven by weakness in the US construction market.
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