Charleston's Dow plant to close in third quarter
CHARLESTON — Dow Chemical plans to close its foam insulation plant in Charleston during the third quarter of this year, company spokeswoman Rebecca Bentley said.
The plant, which employs "about 30," will close as a result of a downturn in the U.S. building and construction industry, Bentley said.
"That sector continues to face a lot of headwinds," she said.
Production will be shifted to another Dow plant in Pennsauken, N.J., Bentley said.
The New Jersey plant has had more recent investment, is a little newer and is able to take on added capacity, she said.
Dow acquired the Charleston plant in 2001 when it bought Celotex Corp.'s rigid foam insulation business.
On Monday, Dow announced the Charleston plant will be one of three foam insulation facilities to close this year.
Also closing will be plants in Portugal and Hungary. Another Dow plant in the Netherlands will be "idled," the company said.
Dow said it would also close a toluene diisocyanate plant in Brazil and make consolidations within its polyurethane and epoxy businesses.
The company said it also plans to cancel several capital projects and institute workforce reductions as part of previously announced cost-cutting efforts.
An estimated 900 positions will be eliminated worldwide. Altogether, Dow employs about 52,000 people.