Dow化工亚省工厂将裁员

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道化工亚省工厂将裁员
6 [4 C' O; o9 S% `9 u- mDow Chemical's Alberta facilities will see layoffs

$ Y8 U! b: Z; _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.

0 @1 p" V' u' v& y' c- j4 U# q# k$ WMary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far.

$ C+ r* J4 J& Y/ S$ ~- W. BThe 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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% [) e" o9 K& Q2 E4 ADow 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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' d9 b9 C, h) R6 c) eDow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.

# `7 x2 c  Q  M6 n0 f) 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.

8 H- [) |- F/ IDow’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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+ |; {  T7 w% A' C8 G6 pPhiladelphia-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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4 j: g* |$ z, t3 K7 C% v- VDow 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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