| Johnson
Matthey plc has today announced that it is considering
the closure of its Colours & Coatings site in Meir,
North Staffordshire. This step is being considered
because of the continuing decline in demand from the
tableware sector and a need to rationalise production
capacity. Production currently carried out on this
site would be redistributed to other sites in the Division.
There
should be no impact on customers caused by the
proposed changes in the location of production.
In the event that the site in Meir is to close,
final production runs will take place in late summer.
It is likely that over 300 jobs would be lost in
total, the majority of which would be at the Meir
facility.
The
total charge for the proposed rationalisation has
been estimated at £24m. However, after the
sale of assets, the rationalisation should be cash
positive for the Division. Savings of some £7m
per year would be expected in the year beginning
1 April 2003.
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Enquiries:
Johnson
Matthey
Ian Godwin
Group Public Relations Manager
Tel: +44 (0)20 7269 8410
Howard Lee
Gavin Anderson & Co
Tel: +44 (0)20 7457 2345
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