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

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.

+ E" h9 [6 p+ w. r( tMary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far.

# R! X, P4 C  S3 U2 F# JThe 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.

6 c4 M4 B# U4 i3 G. ]2 A% ~: @Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.

2 e+ g' w4 U- \+ Y! N$ y+ M( XDow 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.
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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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