Dow to permanently close three shuttered latex plants

ERJ staff report (DS)

Horgen, Switzerland -- Dow Chemical has said it will permanently close three plants previously used to make latex for the carpet backing and paper industries. The three plants in King's Lynn (United Kingdom), Varennes (Canada) and Pittsburg (United States) were temporarily closed during the 2nd half of 2008. Dow has said they will not now re-open.

"This decision follows a thoughtful and prudent cost-benefit analysis taking into consideration the latex business and rapidly changing market conditions, such as the competitiveness of the raw material position, the small scale and the age of the facilities as well as the outlook for the global latex market," says Philippe Raynaud de Fitte, General Manager Dow Emulsion Polymers. "In combination these factors mean that the production of latex in the three affected locations is no longer economically viable. However, with 14 production facilities worldwide, Dow Emulsion Polymers intends to remain a global leader in the latex industry."

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Press release from Dow Chemical