Kemira Announces Additional Restructuring Plans

Kemira says it will reduce capacity and close sites making polymers for paper chemicals under a restructuring designed to save an annualized €10 million ($13 million) in 2009-10. The move is in addition to a global cost-saving program announced earlier this year, which will save more than €50 million in annualized costs and involves 1,000 job cuts, 20% of the group total, excluding the Tikkurila paints business, it says. The target of the latest program is to permanently close some sites producing polymers for paper chemicals in North America and, to a...

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