U.S., Canada Chemical Plant Closures Slow in 2015

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Researched by Industrial Info Resources (Sugar Land, Texas)--Even as capital investments in the Chemical Processing Industry (CPI) of the U.S. and Canada pulled back slightly in 2015, the number of chemical plants to permanently close their doors dropped sharply last year. Industrial Info has identified 38 permanent chemical processing plant closures that took place in 2015 in the U.S. and Canada. The closures affected an estimated 1,629 jobs, which is down from 2014, when 48 plant closures affected an estimated 3,052 jobs.

The Great Lakes region had the highest number of plant closures, with 13 plants affecting 416 jobs. The majority of the closures were located in Ohio, which had six plants close and 182 jobs lost.

The Northeast region followed, with seven plant closures, which impacted 482 jobs; and the West Coast region saw four plant closures affecting 97 jobs.

Six plants involved in the manufacture of plastics materials, elastomers and resins closed in 2015. The year also saw the closure of five industrial gases plants and five paints and allied products plants.

The Chemours Company LLC's (NYSE:CC) (Wilmington, Delaware) Edgemore titanium pigments plant in Wilmington stopped manufacturing in November. The plant has been undergoing decommissioning. Remediation and dismantlement are expected to begin this spring, with completion by the end of the year.

Looking to 2016, Industrial Info is currently tracking 13 chemical processing plants that are expected to stop manufacturing this year. This number is expected to increase as the year progresses. Only three chemical plants have permanently closed their doors during the first quarter so far.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.