Borregaard closes down Italian catechol plant
Norwegian bio-chemicals producer Borregaard is shutting its production facility in Italy due to “challenging market conditions.”
The facility, in the northern city of Ravenna, produces catechol and hydroquinone for the pharmaceutical, agrochemical, flavour and fragrance industries and employs a staff of 40 people.
Borregaard said that there is an overcapacity in the market for catechol a change in this situation is not foreseen in the near future. “The outlook for Borregaard Italia indicates continued losses.”
“We have pursued a number of alternatives for improving the competitiveness of the company, without reaching a sufficient solution. We deeply regret having to make this decision after such strong efforts,” the company said.
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