Indorama Ventures streamlines wool business in Europe

Indorama Ventures Public Company Limited, a global sustainable petrochemical producer, is streamlining manufacturing at its European wool operations to ensure the long-term sustainability of the business.

Worsted yarns currently dyed at Schoeller GmbH & Co KG, a wholly owned subsidiary of Indorama Ventures in Hard, Austria, will be transferred to Lodz, Poland, where Indorama Ventures operates a wool site acquired from Tollegno. Current operations at the Hard site will close, and capacities are planned to be transferred by the end of 2023.

About 80 of the total 110 jobs at the Hard site will be affected, mostly in production. Supporting roles in sales and marketing, finance, and HR are kept to support customers across Europe. Together, representatives of the company and the Works Council informed employees about the plan on July 3.

Rajesh Banka, head of Indorama Ventures’ global wool business, said, “After a thorough analysis, we concluded that this step is necessary now to remain competitive in the long term. We intend to make the job cuts as acceptable as possible. Company and employee representatives at Hard will determine a social plan in the coming weeks.”

The company said that customers have been informed and can expect the same standards of quality service.

Source: Indorama