Kerr-McGee to shut down production in Savannah, cut (140) jobs

[UpInArms]

http://atlanta.bizjournals.com/atlanta/stories/2004/09/13/daily21.html

Kerr-McGee Chemical LLC plans to shut down its titanium dioxide pigment sulfate production at its Savannah, facility by the end of September and will cut about 140 jobs.

Kerr-McGee Chemical, a wholly owned affiliate of Oklahoma City- based Kerr-McGee Corp. (NYSE: KMG), is the world's third-largest producer and marketer of titanium dioxide pigment, an inorganic whitener and opacifier for paints, plastics, paper, inks and hundreds of consumer products. The Savannah sulfate production accounted for approximately 4 percent of the company's total worldwide pigment production in the first half of 2004.

"Production of titanium dioxide pigment remains a core business for Kerr-McGee, and the Savannah chloride facility is an important part of our global operations and will continue operations," said Tom Adams, Kerr-McGee Chemical vice president and general manager of the Pigment Division. "However, demand and prices for sulfate anatase pigments, particularly in the paper market, has declined in North America consistently during the past several years. The decreasing volumes, along with unanticipated environmental and infrastructure issues discovered when Kerr-McGee acquired the facility in 2000, contributed to the decision."

The company also plans to end production at the Savannah gypsum plant that uses by-product from the sulfate process to manufacture gypsum. Kerr-McGee will continue sales and service of gypsum with current inventory.

...more...

The trickle-down theory at work :eyes:

[hadrons]

1. I actually own Kerr-McGee stock ....

only 50 shares though ... I guess I'm in Chimpy's ownship society :eyes:

[mhr]

2. The * Jobs Machine Gains Momentum - At This Rate We Will All

be out of a job within the decade.