Tessenderlo Chemie NV/SA Announces Reposition of Loos (France) Site; to Cut Jobs at Loos Site

Tessenderlo Chemie NV/SA announced that that it has launched a turnaround project to reposition its Loos (France) site to focus on the production of water treatment chemicals. The project consists of three elements. First of all, the Company will make an investment in a new electrolysis plant for the production of water treatment chemicals. Secondly, the non-competitive production units of pharmaceutical intermediates and of sulfate fertilizers at the Loos site may be closed down. The project also encompasses a multi-year environmental improvement plan to manage the historical soil pollution on the Loos site. Information and consultation procedures with the local Works Council and the Committee for Hygiene, Safety and Working Conditions have commenced. The difficult market conditions and a decline in demand at the two independent production units for pharmaceutical intermediates and sulfate fertilizers at the Loos site may result in a restructuring and could impact up to 39 employees at the Loos site.