Klesch’s Kem One May Cut Jobs on ’Abysmal’ Losses, Union Says
Kem One, the maker of vinyl products bought by closely-held Klesch & Co. from Arkema SA in July, may announce job cuts as it’s posting “abysmal financial losses,” French union CFDT said.
“The lack of investment from the new owner is casting many uncertainties over the industrial plan of the company,” the union said in a statement yesterday. CFDT is “worried for the future of the company and related jobs.”
CFDT said it expects to learn more about the future of Kem One, based in Lyon, in central France, at a Feb. 18 and Feb. 19 works council meeting. Sophie Suc, a spokeswoman at Kem One, couldn’t immediately be reached for comment.
Arkema, based in Colombes near Paris, last year unloaded its vinyl business, which has been hurt by a construction slump in Europe, to focus on higher-margin specialty chemicals, high- performance products and coatings ingredients.
To contact the reporter on this story: Francois de Beaupuy in Paris at email@example.com
To contact the editor responsible for this story: Simon Thiel at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.