The Indorama PET factory in Workington is closing with the loss of 73 jobs.
Vice President of Corporate Communications Richard Jones told ITV Border that the facility would be mothballed.
No time scale has been agreed.
The company says an influx of cheaper materials from Asia is to blame for the decision.
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A little damp first thing in the NW of the region on Sunday morning. Decent sun away from here and across the Isle of Man
Emma Jesson brings you Saturday night's forecast
A few showery patches of rain become confined to western coasts through the remainder of Saturday afternoon. Brighter elsewhere