Borregaard closes down plant in Italy
(22 June 2010) Challenging market conditions over the last few years has led to a process in order to close down Borregaard Synthesis production plant in Ravenna, Italy.
Borregaard Italia’s main products are Catechol and Hydroquinone for use in flavor and fragrances, agro, pharma and other industrial applications. There is an overcapacity in the market for Catechol, one of the main products produced in Borregaard Italia. Over the last few years the market conditions have been very challenging with significant financial losses.
Borregaard Synthesis does not foresee this situation to change in the near future and the outlook for Borregaard Italia indicates continued losses. Thus the company sees no other solution than to discontinue the operations at Borregaard Italia.
A closure of the plant will affect 40 employees.
“We have pursued a number of alternatives for improving the competitiveness of the company, without reaching a sufficient solution. We deeply regret having to make this decision after such strong efforts. We are now turning our attention to helping the employees through this challenging time”, says Executive Vice President of Borregaard Synthesis, Bjørn Erik Amundsen.
Contact:
Tone Horvei Bredal, Communication Manager, Borregaard
Phone: + 47 92467711
E-mail: tone.horvei.bredal@borregaard.com
Please check the following brochures:
Brochure Ravenna Summary
Brochure Ravenna
In case of interest, please contact:
Antonio Menezes, sales director, Borregaard Italia
Phone: +39 0289630321
Mobile: +39 335290887
Mail: antonio.menezes@borregaard.com