May 20 (Reuters) - Stepan Co SCL.N :
* Stepan announces Canadian plant closure
* Decision will result in a workforce reduction of
approximately 30 employees
* Total remaining costs associated with plant shutdown are
expected to be $8 million
* Products manufactured at this facility will be moved to
other production sites within Stepan's existing North American
network
* Plans to cease all production activities and shutdown its
Longford mills, canada facility by end of 2016
* Says expects to recognize net pre tax manufacturing
savings of less than $1 million in 2016 increasing to $3 million
in 2018
* Costs are expected to be recognized during final three
quarters of year as incurred
* Plans to cease all production activities and shutdown its
Longford mills, Canada facility by end of 2016
Source text for Eikon: ID:nPn5JbgdYa
Further company coverage: SCL.N