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NSG to halt production at UK float plant, lay off 3,500 employees globally

Post Time:Feb 02,2012Classify:Industry NewsView:135

UPDATE: The St Helens Star is reporting that the NSG Group's announcement will impact 150 employees at Pilkington by the end of 2012, as the Group shuts down the UK6 float line at the Greengate site and the solar cutting operation at the Cowley Hill site in the United Kingdom. Read more...

In response to worsening market conditions, Nippon Sheet Glasswill reduce capacity and output by mothballing of one of its float lines in the UK. This follows the announcement on Dec. 15, 2011, that the company would delay the construction of a solar energy line in Vietnam.

As part of its cost reduction plan, the NSG Group will lay off 3,500 employees, according to a Feb. 2 release. Going forward,the company will respond to market conditions as appropriate, by delaying investments and, where necessary, removing manufacturing capacity.

NSG Group officials attribute the downsizing to "worsening conditions in many of the Group’s core markets, particularly in Europe." According to the release, building products markets during the third quarter have been generally weak, and NSG expects this to continue during the remainder of the year.


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Source: http://www.glassmagazine.com/news-item/commercial/nsg-halt-production-uk-float-plant-lay-3500-employees-globally-129305Author:

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