Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Klesch’s Kem One May Cut Jobs on ’Abysmal’ Losses, Union Says

Feb. 12 (Bloomberg) -- 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 fdebeaupuy@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.