THE Hamilton plant’s critical role in Iluka’s national operations will see it spared the worst of job cuts announced last Thursday.
The assurances from Iluka’s Rob Porter came after his company posted a 33 per cent drop in profit.
Mr Porter’s statements conflict with reports that the Hamilton plant will have its production running time slashed by half.
Iluka’s revenue slid from $1.6 billion to $1.2 billion in 2012 and profits dropped by $363.2 million, largely as a result of weak global conditions and a drop in demand from China.
Iluka has proposed 200 job cuts nationally, to offset the revenue loss.
But few if any of the cuts will be felt locally, according to the Iluka spokesman.
Full story in the Spectator on Tuesday, February 26, 2013