By Patrick Raleigh, UT On-line news editorGoch, Germany-Bayer MaterialScience AG is to close its GVW Garnveredelungswerke GmbH elastic covered yarn business. The company is a subsidiary of Bayer Faser GmbH-the maker of Dorlastan brand elastomeric urethane fibres. GVW’s posted high losses in 2003 and had poor future prospects, explained a 24 March Bayer statement. All 165 jobs at the company are likely to be lost, a group statement added.”Prices for GVW products fell more sharply than could be compensated for by cost-cutting measures…We reviewed the option of combining GVW with other companies. This unfortunately proved impossible,” said Bettina Langhans, managing director of GVW, in a press statement.Bayer, however, is studying a possible integration of GVW’s Dorlastan warping and rewinding units into Bayer Faser’s facilities in Dormagen. Some GVW workers, it said, could then transfer to the headquarters operation.”
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