SOLON, Ohio (Aug. 13, 2008) – Excel Polymers L.L.C. has decided to restructure its Dyersburg, Tenn., mixing plant, reducing its staff of about 450 by about 130 jobs.
The overall business climate, oil and polymers-based supply change, declining domestic customer demand and the shift of demand to other regions throughout the world prompted the action, the company said. The change will make the Dyersburg plant a smaller but profitable operation.
“Additionally, Excel Polymers reviewed its support structure and is adjusting the size and scope of resources that will be needed to support its customer base,” the company said.
The firm has notified the affected employees, and said it will assist them and offer severance packages.
“With key customers shutting plants due to low consumer demand, we need to recognize the significant shift in the business environment and respond swiftly to maintain the viability of our business,” said the producer of compounded elastomer materials, roll compounds and additives.