Charleston plant closure

RNS Number : 0882G

Elementis PLC

23 November 2020

 

Elementis plc

Charleston plant closure

Elementis plc ("Elementis" or the "Group"), a global specialty chemicals company, today announces the closure of its Charleston, West Virginia, production plant.

The decision follows a review of our North American manufacturing operations to improve both efficiency and capacity utilisation. The closure will impact approximately 30 employees and is effective from the 20 November 2020. Production will be consolidated at our St. Louis, Missouri, plant.

The Charleston closure underpins the delivery of previously announced $10m of annual supply chain savings. As indicated at the Interim Results, we have accelerated these savings by one year to start from 2021. As a result, one off cash costs of approximately $5m will be incurred in 2021.

Commenting on the announcement, CEO, 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".

Enquiries

Elementis plc

James Curran, Investor Relations   Tel: [phone]

Tulchan  

Martin Robinson  Tel: [phone]

David Allchurch

 

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