Dow化工亚省工厂将裁员

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道化工亚省工厂将裁员
Dow Chemical's Alberta facilities will see layoffs
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' }! s* Q! T$ p& r6 q; J( uEDMONTON — 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.
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, i- \1 y7 J* @. ~' E6 z6 UMary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far.

- _- R' L) D7 U) S" `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.

Dow 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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- G2 ]: h& Z% E6 |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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& L+ B8 Z" X$ d2 `7 w6 }9 d& H* D4 cDow 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.

Philadelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.

! e' L% B' A8 y8 ^Dow 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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