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Solvay closes two composites plants as aviation crisis deepens

 Last Update: 2022-08-23
 Source: Internet
 Author: User

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Solvay said it will accelerate restructuring measures to deal with reduced customer demand due to the coronavirus disease 2019 (COVID-19) pandemic and will permanently close two composites plants

In addition, layoffs are being implemented across the business, potentially reducing the total workforce by around 570 people, or about 20% of the workforce

Solvay said the restructuring would allow companies to adjust their cost structures and partially mitigate the economic downturn in the short term

Over the past year, Solvay's composites business has improved operational efficiency through increased productivity and automation

"The decision to cut jobs is very important to us,

" said Solvay CEO Ilham Kadri.

The move is in response to the current downsizing of the civil aviation industry

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