Facility Shutdown Dow Confirms Plant Shutdowns in Europe and the Americas
Dow confirms plans to shut down production assets for styrofoams, mainly in Europe but also in the Americas, company speakers confirmed. “Continued weakness in the European economy” and "ongoing headwinds" lead to this decision, company spoeakers said.
Midland, Michigan/USA – Dow's styrofoam business is facing severe difficulties. Now the company drew the consequences and confirmed plans to shut down several facilities in both Europe and the Americas, eliminating around 900 jobs during the next two years (see also "Dow Shuts Down Styrofoam Plants").
These plans affect facilities in Estarreja, Portugal; Balatonfuzfo, Hungary; and Charleston, Illinois, as well as an idle plant in the Netherlands. Dow also plans to close its toluene diisocyanate (TDI) plant in Camaçari, Brazil.
Speakers nevertheless stressed that Dow continues its investment plans for the US Gulf coast region. In Europe, nevertheless, the company would face "ongoing volatility and headwinds", speakers said. The closure of the Illinois plant comes as a reaction to the crisis of the construction industry in the US. A plant in New Jersey would take over for the Charleston facility.