Nalco restructures, forms energy chemicals jv with Exxon
Journal Article
·
· Chemical Week
OSTI ID:508616
About 20% of Nalco Chemical`s (Naperville, IL) workforce-about 900 employees-will be affected by the company`s restructuring moves; they are to be transferred to a new 50-50 energy chemicals joint venture with Exxon. Four hundred employees worldwide-the majority in Europe-will receive severance packages. Among other consolidations, European support functions will be unified. A plant on Chicago`s South Side will be shut, with production shifted to the nearby Bedford Park plant, Nalco`s largest. Some foreign manufacturing operations will also be affected. The company will take a $54-million after-tax charge to cover the restructuring and the charges associated with forming the joint venture.
- OSTI ID:
- 508616
- Journal Information:
- Chemical Week, Vol. 155, Issue 9; Other Information: PBD: 14 Sep 1994
- Country of Publication:
- United States
- Language:
- English
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