Singapore - Speciality chemical company DyStar has announced plans to restructure its facility in Ludwigshafen, Germany which will ultimately see the company diversify its production activity out of Europe.
Announcing the decision, Xu Yalin, managing director, and president of DyStar Group, said the strategic decision had been made in response to changing business conditions and market shifts. “This is an important strategic move for DyStar," he said. "We will focus on developing key emerging markets, which have been shifting over a decade. In the wake of higher energy costs and inflation, DyStar is determined to further improve cost efficiency and drive sustainable productivity as we continue to deliver the highest quality of innovative products that support the global supply chain.”
Eric Hopmann, chief commercial officer of DyStar Group, added: “The restructuring of this facility will be carried out in a phased manner. DyStar will diversify the production activity out of Europe and start with the reduction of manpower as a consequence. DyStar’s customers can be further assured of undisrupted supply, hence their production should not be affected as we will work closely to meet their specific requirements.”
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