ORANGE, Texas — Invista will begin shutting down it's production facility in Orange right away, closing it and eliminating more than 200 jobs by the end of 2024.
Shutdown of the company's adiponitrile, or ADN, production unit in Orange will begin right away according to a news release from the company.
The company made the announcement on Thursday according to a news release on its website.
Invista says it expects to stop production of hexamethylene diamine, or HMD, in mid-2024.
The cause for the shutdown is being blamed on low demand and higher supply.
"Unfortunately, lower than anticipated growth and an increase in global supply led to this difficult decision," Francis Murphy, INVISTA president and CEO, was quoted as saying in the release.
By the end of 2024 about 240 of the facility's current 300 jobs will be eliminate the company said.
All employees who are losing a job will be eligible for severance benefits.
"We appreciate the diligent and innovative work of employees at the Orange site over the years," Murphy said in the news release.
The company says that it is committed to treating all employees with dignity and respect as the facility is shut down.
"Ultimately, this decision was made to position our business to more competitively serve the long-term needs of our customers," Murphy said.
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This is a developing story. We will update with more if and when we receive more confirmed information.