A chemical company in Wilton, Redcar has announced plans to axe 70 jobs.
Lotte Chemical UK said they will no longer make PTA, which is used to make soft drink bottles.
The company has been making PTA on Teesside since 1981. They will begin a period of consultation with their employees.
More top news
Labour MPs have said the 'Northern Powerhouse' project has "all but been cancelled", with attention now focussed on the 'Midlands Engine'
Primary school children went to Northern Stage in Newcastle to perform Shakespeare for the first time.
Executives at Newcastle International Airport have welcomed the decision by the Government to approve Heathrow expansion plans