The Indorama Ventures group has decided to permanently close its Steinfort site, putting approximately one hundred jobs at risk, in a move that unions have described as a severe blow to Luxembourg's industrial sector.
The Independent Luxembourg Trade Union Confederation (OGBL) and the Luxembourg Confederation of Christian Trade Unions (LCGB) have condemned the closure as unacceptable. Beyond the human cost for the affected employees and their families, the unions warned that the decision represents an extremely worrying development for the country's entire industrial sector.
According to the OGBL and LCGB, this marks the largest closure of an industrial company in Luxembourg since TDK shut down its Bascharage operations in 2007. The unions lamented that employees are now bearing the consequences of a strategic decision made by a multinational that generates an annual turnover of around €12 billion.
The unions further criticised the outright closure as intolerable, stating that no consideration has been given to alternative solutions that could preserve jobs. An urgent meeting has already been requested with Minister of the Economy Lex Delles and Minister of Labour Marc Spautz.
Indorama Ventures is a manufacturer of intermediate products for the petrochemical industry and the world's leading producer of PET resins.
