World News
Chesapeake's Brussels operation under threat
More than 40 jobs could be lost at Chesapeake's carton manufacturing plant in Brussels, Belgium, as the US-based group considers plans to close the site.
Chesapeake announced yesterday (13 May) that it plans to close the Brussels site and transfer production to the company's nearby carton operation in Ghent. It has started talks with employee representatives at Brussels.
A total of 42 jobs at the Brussels site could be lost if the proposal is accepted.
Chesapeake chief executive Andrew Kohut said the proposed closure would "improve overall plant utilisation," customer service and quality.
Last week, Chesapeake revealed its first-quarter results to 30 March were "worse than expected", recording an $8.4m (£4.3m) loss from continuing operations excluding special items, compared with a $900,000 profit for the same period in 2007.
Chesapeake has 45 sites in Europe, North America, Asia and Africa.
In December 2007 it agreed with its lenders to amend certain covenants of its senior revolving credit facility.
Kohut: closure would "improve overall plant utilisation"
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