Ninety jobs are at risk on Teesside, after the chemical company INEOS confirmed the possible closure of a plant they operate in Stockton.
INEOS said they had ''no choice'' but to begin a consultation on the job losses.
BASF which owns the plant, has also served notice on its contract with INEOS to supply services and utilities to their Teesside plant, until 2028.
The decision by BASF is unexpected. Throughout 2020 considerable investment in the HMD plant was undertaken by BASF and discussions had been progressing well with them about their future needs at the site including dates to restart the unit in early 2021. It is unclear why BASF has totally changed its plans.
The Tees Valley Mayor Ben Houchen says the Tees Valley combined authority will work to find those affected new jobs.
My heart goes out to those affected by the news today and we’ll work to do what we can to find new jobs.Thankfully, at this stage, it does not look like this news will have an impact on any other businesses in Teesside or lead to any other job losses at other firms.