Dow Emulsion Polymers to Close Three Production Facilities
Horgen, Switzerland - The Dow Emulsion Polymers Business has announced that it will permanently close three of its manufacturing facilities in King’s Lynn (United Kingdom), Varennes (Canada) and Pittsburg (United States). These facilities were already idled during the 2nd half of 2008 and were producing latex for the paper and carpet industry. After extensive analysis of the economic outlook and financial feasibility, it was decided not to re-start production at these facilities.
“This decision follows a thoughtful and prudent cost-benefit analysis taking 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,” says Philippe Raynaud de Fitte, General Manager Dow Emulsion Polymers. “In combination these factors mean that the production of latex in the three impacted locations is no longer economically viable. However, with 14 production facilities worldwide, Dow Emulsion Polymers intends to remain a global leader in the latex industry.”
After the idling of the assets, Dow was able to re-deploy most of the impacted employees within the company. The business will look at the most cost effective way to dispose of the assets.
With annual sales of $54 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the “ Human Element ” to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
About Dow Emulsion Polymers
Dow Emulsion Polymers provides the broadest line of latex products and services supporting customers in the paper/paperboard and carpet markets. With 14 manufacturing facilities worldwide, Dow is the largest supplier of latexes. More information about Dow Emulsion Polymers can be found at http://www.dow.com/emulpoly/
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.