Delta Chemical Industry (DCI) has announced plans to close its facility in 2019.
The company announced that the closure will be effective January 1, 2019.
It is believed that the closing of the plant will result in a net loss of $1.3 billion, as the company expects to lose approximately 1,000 employees as a result of the closure.
The decision to close the facility comes at a time when the company is facing a number of difficult financial challenges, including an internal investigation into the death of a worker.
In a statement released by the company on Tuesday, DCI CEO Joe Dohring said that the company will remain focused on its growth strategy and will continue to operate its facilities.
“We will be a leader in the development of chemicals that will help us address the world’s most pressing challenges,” Dohrings said in the statement.
“This closure will allow DCI to focus on the critical areas of chemical innovation, and we look forward to providing our customers and employees with a high-quality product and an environment that fosters our business success.”