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Rohm and Haas Also Streamlines Operations
Dow is not alone. Rohm and Haas announced last week that it will likely cut about 1,200 jobs--out of its 18,000-strong workforce--as part of a new effort to streamline the company. "The external economic environment of the past 12 months has sharpened our resolve to make Rohm and Haas a less complex company," said Chairman and CEO Rajiv L. Gupta.
A new management structure will make each unit more accountable for its performance, and the company will streamline its manufacturing assets. In the beleaguered printed wiring board industry, Rohm and Haas's Shipley subsidiary will close its Tustin and Orange, Calif., plants and shut down half its Freeport, N.Y., unit, affecting about 200 employees in all.
Rohm and Haas is also exiting the liquid polysulfide sealants business and closing a plant in Kankakee, Ill. These manufacturing measures as well as a few smaller projects will lead to about $200 million in annual savings by the fourth quarter of 2002.
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