Kemira Plans Capacity Cuts and Site Closures

Kemira says it will reduce capacity and close sites making polymers for paper chemicals under a new restructuring program designed to save an annualized €10 million ($13.4 million) during 2009 and 2010. This is in addition to a global cost savings program announced earlier this year, which will save more than €50 million/year and involves 1,000 job cuts, accounting for 20% of the group total, excluding the Tikkurila paints business. Jyrki Maki-Kala, Kemira's CFO tells CW that the target is to permanently close some of the sites...

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