Great Lakes Chemicals: Closure of French additives plant
A weak market for additives is forcing Great Lakes Chemical, USA, to close its Persan, France, production plant by the end of the year. The facility produces antioxidants and UV stabilizers. Production will be transferred to Korea and Italy, where manufacturing costs are said to be lower.
A company spokesman says high energy costs and increased polymer prices have caused sales of both additive types to decrease. The restructuring will cut 133 employees. Other closures are expected because the company has announced a total reduction of 390 jobs, or 8 per cent of its workforce, over the next 12 months.