Cytec presents restructuring proposal for Botlek facility.
The proposal is subject to negotiations with the Works Council and the unions, among other conditions.
Features of the proposed plan include a major re-engineering of the organization, relocation of certain manufacturing operations to other Cytec sites, a potential investment in a new polymer additives plant and staff reductions of up to 115 positions over a two year period, commencing with the implementation of the plan.
The Botlek plant manufactures a wide range of specialty chemicals. The total current staff level is approximately 360 positions.
Cytec Industries Inc. is a vertically integrated industrial chemical company which focuses on value-added specialty products. The company develops, manufactures and markets specialty chemicals, specialty materials and building block chemicals serving a broad group of end users, including the water treatment, paper, mining, coatings, plastics, aerospace, textile and automotive industries.
CONTACT: Cytec Industries, West Paterson
Kumar Shah (analyst contact)
George Yuro, 201/357-3319