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Dow Announces Plant Closures and Job Cuts

5:44 PM MDT | April 9, 2012 | —Rebecca Coons

Dow Chemical says it will implement several cost-reduction efforts including plant closures and about 900 jobs, in response to “continued weakness” in the European economy. The company says it will close three plants that produce Styrofoam-brand insulation products. They are at Estarreja, Portugal; Balatonfuzfo, Hungary; and Charleston, IL. Dow will also temporarily idle a Styrofoam unit at Terneuzen, The Netherlands and close a toluene diisocyanate (TDI) plant at Camaçari, Brazil. Dow anticipates that it will save about $250 million annually from these...

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