In one of a series of cost-cutting measures, Crompton Corp. says it will close a refrigeration lubricant plant in Gretna, La., by the end of this year. The plant, which employs 40 people, makes its products using naphthenic base oils. The company said it will continue carrying the product using another supplier.
Information about the closing was included in recent press reports of Cromptons third-quarter financial performance. A spokeswoman said the company informed employees during the summer but did not publicly announce its plan for the Gretna plant.
Overall, Crompton is eliminating 375 positions – 7 percent of its workforce – in an effort to save $40 million annually. Spokeswoman Mary Ann Dunnell said the company, based in Middlebury, Conn., decided to close the Gretna plant because it was too small.
Originally it was a larger facility, but its simply too small now to run efficiently, she said.