Wednesday, April 28, 2010

Soaring UK Energy Prices Destroy Britain’s Industrial Base


The American owners of Spondon factory Celanese Acetate today blamed soaring UK energy prices for their devastating plan to shut the plant with the loss of 460 jobs. Celanese Corporation said it was consulting with staff over proposals to close the site next year to concentrate production in Belgium, the US and Mexico, where power costs were cheaper. UK energy prices have skyrocketed by 16.7% in the last year against an average increase of just 3.8% in the European Union.

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