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Business
Chemtura Will Cut Jobs, Close Plants
June 11, 2007
| A version of this story appeared in
Volume 85, Issue 24
Chemtura plans to close its polymer antioxidant facilities in Pedrengo and Ravenna, Italy, and end production of antioxidant intermediate chemicals at a plant in Catenoy, France, that supplies the Pedrengo facility. The shutdowns will affect 125???135 employees at Pedrengo, 25???35 at Ravenna, and around 35 at Catenoy. To account for severance costs, Chemtura plans to take a pretax charge against earnings of $15 million to $20 million. Chemtura will continue to supply customers with antioxidants from its other facilities.
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