Rhein Chemie/Lanxess begins U.S. restructuring.Rhein Chemie, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Lanxess, Pittsburgh, PA, announced it is taking a number of initiatives to improve its U.S. rubber business. This includes consolidating its rubber business and closing its production facility in Trenton, NJ. The closure of the plant will be completed by the end of 2006. Rhein Chemic chem·ic adj. 1. Chemical. 2. Archaic Alchemic. n. Obsolete An alchemist. Adj. 1. will retain its warehouse facilities in Trenton. This restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). comes as a result of changing customer demands in the U.S. automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. and administrative redundancies. This closure will affect 76 employees in Trenton. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion