The company said the action, which will result in the loss of about 75 jobs, is part of a previously announced plan to improve financial results. The action will result in an undisclosed charge to earnings later this year, the company said. Lawter produces resins for the graphic-arts, coatings and adhesives industries at the Moundville site. The products include hydrocarbon, rosin ester, polyamide, polyketone, and acrylic resins.
J. Brian Ferguson, president of Eastman's Chemicals Group, said Lawter will begin phasing out production at Moundville by the end of the year and that he expects the site to be closed during the second quarter of 2002.