МOSCOW (MRC) -- French company Arkema Coatings Resins have announced they're stopping production at part of their site in Stallingborough, said Grimsbytelegraph.
There are reports nearly 60 jobs could be under threat at a chemical plant in North East Lincolnshire. It's understood French company Arkema Coatings Resins have announced they're stopping production at part of their site in Stallingborough.
The company are expected to enter into talks with trade unions and employee representatives next week. Arkema have informed its staff that the final outcome will not be known until the end of the consultation period but support and guidance will be available throughout the process.
Arkema acquired the coatings element of the Laporte Road business as part of a ?495-million deal in July 2011, with a separate brand, CCP, created by Total to retain the composites element of Cray Valley, which operated across 20 global sites.
The products are used in paint, adhesives, inks and sealants, as well as for architectural, sanitary and marine applications.
Three years ago, when the deal was completed, investment totalling more than ?1-million and a 10 per cent increase in staff across the two separate entities was highlighted, however a large part of that investment was for the CCP aspect.
Arkema was actually created by a Total reorganisation back in 2004, it is now a separate entity, trading on the Paris Stock Exchange. At the time of the deal, Cray Valley had 20 different production sites worldwide, with 1,800 people employed and seven research and development centres.
As MRC wrote before, Arkema started its new 60,000 MTY emulsion polymers facility on its Changshu platform. This new plant, which represented a USD30 million investment, is located in Arkema’s Changshu manufacturing complex, the company’s largest manufacturing complex worldwide.
Arkema is a global industrial and speciality chemical company made up of three business segments; Vinyl Products, Industrial Chemicals and Performance Products. It is present in over 40 countries with 14,000 employees.
MRC