WGXC, the Daily Freeman, and the Daily Mail all have reports sparked by a press release issued yesterday: The Holcim cement plant in Catskill is being "mothballed."
The press release reports that 100 jobs will be lost:
"We deeply regret having to mothball this plant," said Bernard Terver, president and chief executive officer of Holcim (US). "In 2010, we highlighted the challenges faced by this plant when we announced a temporary layoff. The mothballing of Catskill is a direct result of continuing economic challenges and market conditions in the region. We have looked at all available options and feel that this move is necessary in order to meet the company's current and future business needs."
Approximately 100 hourly and salaried employees will be affected by this decision.
Mothballing includes ending production operations and securing the plant in such a way that operating permits and equipment will be preserved for possible future operations.
Sam Pratt, a blogger and activist who says that he predicted the closure of the plant in 2005, has his own interpretation of what "mothballing" means:
The company is of course spinning this closure as “mothballing,” which seems more aimed at tamping down investor disappointment than a serious threat to reopen someday. Anything is possible.
