Issue Date: June 11, 2007
Chemtura Will Cut Jobs, Close Plants
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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