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道化工亚省工厂将裁员
1 \- T8 c4 \- w& L# MDow Chemical's Alberta facilities will see layoffs6 N" T3 c. z5 S) ^" U% E9 [
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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. Q: _0 f8 a9 [( R1 V
- C1 \: I+ b% G& X# b$ n3 |Mary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far. # J x. P. V1 K0 L' g% q
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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.$ v" _; }) t m' v2 m" m$ A
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Dow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.# Q: C( V; m% f Q1 s: T: a- I. e
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Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.* @0 T. Q$ Y% q) v0 y
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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.
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: M3 ]( U7 n) @9 T" b4 G7 ADow’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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. _9 t1 c1 n: ?! {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.* A& n8 F+ ?8 a( ]4 a* y. y
4 D3 R7 i) ?' b) T; m, j. nDow 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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