Canada's Pétromont to shutter two plants due to North American market downturn

Pétromont, a Canadian petrochem company jointly owned by Dow Chemical Canada and the Société générale de financement du Québec, Quebec's investment arm has announced to permanently shutter its Varennes and Montréal-Nord plants by April 30. The closure comes following a provisional shut down of the two plants company in April, 2008 resulting in of 325 layoffs. The Varennes plant produced basic petrochemicals while the Montreal-Nord plant was involved in manufacturing polyethylene resins. The company said the shut down was due to currently prevailing difficult market conditions in North America and difficulty in sourcing raw materials at competitive prices due spiking Canadian dollar.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha