In a statement released on Wednesday, Mylar Specialty Films, a plastic film producer, announced the closure of its production site in Luxembourg. The company cited declining demand for its products, rising costs, and ongoing financial losses as key reasons for the decision.
Mylar Specialty Films stated that it will negotiate a social plan for its 95 employees affected by the shutdown. The company also pledged to continue paying staff until the site ceases operations in mid-2025.
