According to a Knoxville News-Sentinel report specialty chemicals maker Rohm & Haas Co. shares fell more than 4 percent Tuesday after the company announced it would cut 900 jobs, close plants and record $90 million in pretax charges for the fourth quarter in response to sluggish demand for chemical products.
Company shares closed down $2.58, or 4.26 percent, to $58 on the New York Stock Exchange.
The Philadelphia-based company, which has a large manufacturing facility in Knoxville, did not identify which plants would be closed or idled.
The Knoxville plant, at 730 Dale Ave. just west of downtown, has employed about 250 workers. The plant produces specialty chemicals for use in paints, coatings, computers, electronics and household products.
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