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.