Westlake to temporarily cease certain operations at Netherlands site, trims workforce

Westlake

29/07/2024 11:52

July 29 (Reuters) - Chemicals maker Westlake  WLK.N 
said on Monday it will temporarily cease operations of certain
units at its site in Netherlands, and lay off about 30
employees.
    Operations of the allyl chloride and epichlorohydrin units
at Westlake's Pernis site in the Netherlands will be temporarily
ceased in 2025, the company said in a regulatory filing.
    It would incur total pre-tax costs of about 80 million euros
 ($86.66 million), which includes employee severance and
separation costs. Westlake expects to record all of these costs
in the third quarter of 2024.
    The company expects the workforce reduction and the halting
of operations to materially improve the facility's financial
performance.
    Westlake will, however, continue to operate the liquid epoxy
resin and bisphenol A units at the Pernis facility, the company
added.
    
    
    
   

($1 = 0.9232 euros)

 (Reporting by Vallari Srivastava in Bengaluru; Editing by
Mrigank Dhaniwala)
 ((Srivastava.Vallari@thomsonreuters.com;))