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By Sean Farrell
Date: Monday 23 Nov 2020
LONDON (ShareCast) - (Sharecast News) - Elementis has closed its production plant in Charleston, West Virginia, as part of a plan to improve efficiency at its North American manufacturing operations.
The chemicals company said the closure, which took effect on 20 November, would affect about 30 employees. Production will be consolidated at its plant in St Louis, Missouri, Elementis said.
Elementis said closing the Charleston plant would support $10m of annual supply chain savings. The savings will start from 2021 costing about $5m in one-off expenses.
Chief Executive Paul Waterman said: "We have made the difficult decision to close our plant in Charleston as part of our global supply chain optimisation. I would like to thank the Charleston team for their hard work and contribution to Elementis. They will receive our full support during this difficult time".
Elementis shares rose 0.2% to 106.4p at 10:45 GMT.
|52 Week High||161.70p|
|52 Week Low||61.75p|
Compare performance with the sector and the market.
|Time||Volume / Share Price|
|13:52||4 @ 148.30p|
|13:52||75 @ 148.30p|
|13:52||5 @ 148.40p|
|13:50||1 @ 148.40p|
|13:49||13 @ 148.40p|