5N Plus to close its Tilly facility in Belgium
by CM Staff
5N Plus says the facility currently employs 68 people.
MONTREAL — 5N Plus Inc. says 5N Plus Belgium SA intends to halt production at its manufacturing facility in Tilly, Belgium and proceed with closing the site.
The Tilly, Belgium site manufactures lead-based products and nitrate chemicals, primarily for applications in the industrial and catalytic & extractive sectors. 5N Plus says the facility currently employs 68 people.
According to 5N Plus, the decision to shut down this facility comes after failed attempts at enhancing the site’s competitiveness and profitability.
“The Tilly facility has been an unprofitable and high-cost operation for several years, a situation that has been exacerbated by current market and economic conditions, and further eroding its product margins,” reads the announcement from 5N Plus.
“With no earnings or margin improvements in sight on the lead-based products it manufactures, and given the significant additional capital required to maintain operations, our current activities in Tilly are no longer economically viable or compatible with our long-term strategy, aimed at positioning 5N Plus for growth in value-added markets,” said Gervais Jacques, president and CEO in a statement.
5N Plus wanted to clarify that the closure of this site will have no impact on other manufacturing, R&D or commercial activities with the company.