Dow化工亚省工厂将裁员

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道化工亚省工厂将裁员
- \. \( J/ O/ k7 N" [2 FDow 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.

5 V# Y: B3 b7 V8 x4 I/ Z8 ?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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$ D" _# D# \3 G: c6 z6 ?6 iDow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.

6 E+ o8 L1 M% o* [# V( IDow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.

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.

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.

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.

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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