Arkema restructures North American operations to reduce costs

14-May-09

France's leading chemical producer Arkema has announced cost cutting measures and restructuring for its North American activities to improve its costs basis by US$40 mln in 2010 and achieve a total annual savings of US$50 mln by 2012. These measures include employee reductions at Arkema Inc., its subsidiary headquartered in Philadelphia, Pennsylvania, at its Canadian affiliate in Oakville and at production sites in Louisville and Carrollton (Kentucky), Mobile (Alabama), Memphis (Tennessee), Birdsboro and Bristol (Pennsylvania). These restructurings form a part of US$740 mln cost-cutting plan for the entire Group implemented since 2006. Bernard Roche, president and chief executive officer of Arkema Inc. said, "These cost-cutting measures further strengthen Arkema and its North American operations both to maintain its competitive edge in the current economic downturn and to grow once the economy rebounds." Arkema consists of three business segments: Vinyl Products, Industrial Chemicals, and Performance Products with six research centers in France, the United States and Japan, and internationally recognized brands, Arkema holds leadership positions in its principal markets.