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道化工亚省工厂将裁员: o4 U; n1 \/ p6 E$ j- c; E7 V9 N
Dow Chemical's Alberta facilities will see layoffs, W( b& K! T1 B. g4 g
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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.
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Mary-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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3 Q1 A) ?: M. b6 ^3 y1 f! `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.0 h( X" u' Q/ D' ]9 |( J; y
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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.
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. c& z) z& a! g" W9 MDow 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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/ K3 u# \' n* V" d4 kDow 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.3 S) P4 \) q7 U" G
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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.1 n; S1 X& o2 N- J7 k8 o
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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.
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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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