Rohm and Haas has announced that it has embarked on an effort to streamline its organizational structure, work processes, manufacturing and non-manufacturing resources in order to enhance its financial performance.
PHILADELPHIA, Pa. — Rohm and Haas Co. has announced that it has embarked on an effort to streamline its organizational structure, work processes, manufacturing and non-manufacturing resources in order to enhance its financial performance. Chairman and CEO Raj Gupta reaffirmed the company’s growth strategy and reported that senior officials have determined this is an appropriate time to examine the company’s entire cost structure.
“The external economic environment of the last 12 months has sharpened our resolve to make Rohm and Haas a less complex company,” Gupta said. “Soaring costs of hydrocarbon-based raw materials – and energy – have slowed demand in the marketplace to levels last seen 18-24 months ago. This has especially affected the Performance Polymers Business Group. A sharp decline in the electronics industry also has impacted our performance. We have the right technologies, global network and business portfolio for long-term success, but the structural changes in our markets make it imperative we adjust the way we do business. Reducing the fixed costs of our business, combined with relief from raw material costs – and achieving needed price increases – are imperative at this time. We will become more agile, more focused and better positioned to leverage our strong market positions and technology base for growth across our portfolio,” he said.