BEAUMONT, Texas — A Southeast Texas hydrocarbon resins plant will be shutting production in Beaumont of one its products costing about 70 workers their jobs.
Resin Solutions recently announced that the company will no longer be producing its "Wingtack Resins" productions at its manufacturing facility in Beaumont, according to a statement from the company.
The production of "Wingtack Resins" is expected to cease by the end of June 2024 and will affect 70 employees, a company official told 12News by email on Monday. The timeline could change based on customer needs the official said
Hydrocarbon resins are used extensively in the manufacture of rubbers, coatings, printing inks and adhesives.
The company blamed the market for the closure.
"Following a detailed strategic review, the company concluded that the combination of overcapacity, aggressively priced imports, and low growth in the product category made continued production unsustainable," the company said in a statement on its website.
The company says it will work with its employees and customers while managing the transition over the next few months.
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This is a developing story. We will update with more if and when we receive more confirmed information.