DyStar, the Singapore-based specialty chemical company, has announced that it will “restructure” its Ludwigshafen plant in Germany, leading to its closure. The plant, which has been producing indigo for over a century, was inherited by DyStar from its founders and has been an integral part of the company’s global network.
The restructuring is a strategic move by the company to focus on developing key emerging markets that have been shifting for over a decade in response to changing business conditions and market shifts. The move comes amid rising energy costs and inflation and is aimed at improving cost efficiency and driving sustainable productivity. The restructuring will be carried out in a phased manner, and terminated employees will receive severance packages.
The company has committed to working with the appropriate local resources to support affected employees and their families during the transition. DyStar has assured its customers that their production will not be affected as it will work closely to meet their specific requirements.
