Falorni Tech Glass Melting Technology
Banner
Filtraglass

General Chemical cuts synthetic soda ash output

US group General Chemical has announced plans to idle approximately 500,000 tons per year of synthetic soda ash production at its Amherstburg site in Ontario, Canada, by 31 March 2001. This amounts to…

US group General Chemical has announced plans to idle approximately 500,000 tons per year of synthetic soda ash production at its Amherstburg site in Ontario, Canada, by 31 March 2001. This amounts to 15% of the group“s total soda ash output. General Chemical expects the plan to result in annual savings of more than US$ 7 million by 2002. General Chemical said it aims to improve operating efficiencies, generate significant cost savings and better utilize capital. After implementing the plan, the company will serve essentially all of its customers from its natural soda ash facility in Green River, Wyoming, site of the world“s largest and most economically recoverable deposits of natural soda ash. According to General Chemical, the restructuring will better enable the company to satisfy its customers and maximize its operational efficiencies. The company has also said it will return its soda ash operations to full capacity if market conditions dictate. General Chemical expects to take a net charge of approximately US$ 62 million, or US$ 2.95 per diluted share, during the fourth quarter of 2000 in connection with the plan. The charge will include a US$ 46.5 million non-cash write-down of the value of assets at the idled plant, plus staff severance payments and other cash charges of approximately US$ 15.5 million.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news