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Eastman Chemicals to Close Altovar Ltd

In a continued effort to streamline operations, Eastman Chemicals has decided to close down its Altovar Ltd manufacturing plant, in Banbury, England. Manufacturing plants are to be consolidated and the plant in Kallo, Belgium will continue to produce the products offered by Altovar.

The Altovar business supplied products for the graphic arts industry such as varnishes. Production of these products in the UK is expected to cease by the end of 2002. The plant currently employs 18 people.

With minor capital investment, production from Altovar can be absorbed into the larger Kallo plant. The consolidation will help Eastman to maintain competitiveness and improve efficiency.

Storage and distribution capabilities will however, be maintained in the UK.

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