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道化工亚省工厂将裁员
. h# `- K0 o; `& t) ~9 c# Q: f5 IDow Chemical's Alberta facilities will see layoffs
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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. 1 G9 p; J" {. Q5 |3 x$ G+ {
# K" ]7 o; u& Q# U. ~1 Q/ }! ZThe 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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u! |& J1 h$ a* e! I# ~, R cDow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.. S- H Y7 @2 V$ J, F0 k6 \
; v: @$ u7 u- }2 F9 lDow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.9 w9 j/ o. K3 [4 z0 k
; |- R- D0 [+ |5 z4 n6 }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 $15 billion to acquire Rohm and Haas using proceeds from the joint venture.+ q( z8 ?6 o' f5 Z
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Dow’s plans faltered when Kuwait backed out of the joint venture. Rohm and Haas said its merger agreement with Dow, was not contingent on the Kuwait transaction.
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@0 i% g& }1 {/ n, o1 p Z$ O; ~1 BPhiladelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.3 v( @# H4 o: q2 `3 r/ M2 F9 C
! Z0 z% H; d4 C. P' x7 A; I2 [" SDow 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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