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道化工亚省工厂将裁员# a' v+ M6 L2 `4 [0 }, S* W
Dow Chemical's Alberta facilities will see layoffs, R: k0 \* w+ y) `
+ z/ y/ ~( \6 R" N: x8 @EDMONTON — Some employees at Dow Chemical’s Alberta facilities have been notified they will be laid off but the full extent of the job cuts won’t be known until late next week, a company spokesperson said Wednesday.$ [5 F+ i3 S6 d9 ^
( n2 ^3 `2 s' B0 U) k: mMary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far. ) Y' h; i: n, F* `
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The cuts are not expected to be as deep as the 11-per-cent target announced by the U.S.-based company in December, she said.
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2 c9 b# W4 R/ U4 @, A" A }6 gDow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.
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1 y, o0 o& B% \Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.
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Dow has tried to revamp its earnings profile over the past two years, first by announcing plans to sell a 50- per-cent stake in its cyclical basic plastics business to Kuwaiti investors for more than $9 billion. Then, in July, it announced plans to spend more than $15 billion to acquire Rohm and Haas using proceeds from the joint venture.
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Dow’s plans faltered when Kuwait backed out of the joint venture. Rohm and Haas said its merger agreement with Dow, was not contingent on the Kuwait transaction.6 [' W, R7 i/ t b4 v, a2 e
6 f! Q+ C' t( r, F5 v# J. nPhiladelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.) h5 j& H! r' T) F& b+ X* h
- h3 [/ q7 g o9 ~6 J6 z f) zDow argued the agreement was not binding, because it was impossible to carry out “without jeopardizing the very existence of both companies.” |
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