Dow Chemical closes three Louisiana plants
July 2, 2009
MIDLAND, MI — The Dow Chemical Company announced yesterday that it plans to close three of its Louisiana plants, including two in Hahnville and one in Plaquemine, according to the Associated Press.
The decision comes as Dow, which recently purchased Rohm & Haas for $16.3 billion in April, shifts away from manufacturing traditional chemicals toward the more lucrative specialty chemicals market, the story stated.
According to the story, closing the three plants will save Dow roughly $100 million annually.
The 100 displaced employees from the plants will be offered positions elsewhere within the company, the story noted.
Dow expects to take a $700 million second-quarter charge as part of the triple plant closure announcement, the story added.
Click here to read the complete article.
For related information, click here.