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Elementis closes production plant in Charleston, West Virginia
StockMarketWire.com
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Chemicals company Elementis said it had closed its production plant in Charleston, West Virginia.
The decision followed a review of its North American manufacturing operations to improve both efficiency and capacity utilisation. The closure would impact approximately 30 employees and is effective from 20 November 2020, the company said.
Production would be consolidated at its St. Louis, Missouri, plant, the company added. The Charleston closure underpinned the delivery of previously announced $10m of annual supply chain savings.
As a result, one-off cash costs of approximately $5m will be incurred in 2021.
At 9:26am: (LON:ELM) Elementis PLC share price was 0p at 110.5p
Story provided by StockMarketWire.com
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