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道化工亚省工厂将裁员
5 X' b) A! z0 J1 qDow Chemical's Alberta facilities will see layoffs: v$ S) h* x# E6 W! Q
& Q" J! ^$ \% N$ v: `; y5 DEDMONTON — 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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) o" |0 j4 ]5 h) q. d! LMary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far.
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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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Dow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.4 ?1 ^& H) r7 |2 ?! ]* n" B
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Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.- T- `# ?; S2 u+ B. s
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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.0 U. M; k6 o; a6 F* L5 u
2 w# ?0 c; \8 a8 H9 o" a8 tDow’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.
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: A( A0 C: K9 |" _1 ^7 z. d5 QPhiladelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.+ J: L1 t8 h+ T; R/ L+ J# }! I0 h( P; ~
' D4 J1 _+ d Z9 v, qDow 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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