Dow Chemical To Close Plants, Cut 900 Jobs On Europe Weakness

Dow Chemical Co. (DOW) said Monday that it will close certain manufacturing plants in Europe, North America as well as Latin America and cut about 900 jobs worldwide, citing continued weakness in the European economy. The maker of chemical products will also cancel certain capital projects. Accordingly, Dow will take charges totaling about $350 million in the first quarter for asset impairments and write-offs, severance and other costs related to these measures.

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