Dear all,
It is with sadness that we write to confirm the company’s decision to close the Huaibei canvas plant with immediate effect.
Whilst we have been working hard to find an alternative to this decision, the competitive demands of the global canvas market mean that it is no longer financially viable to continue to produce canvas in Colart. We have experienced a steady reduction in our orders and in discussion with our customers, we now know this situation is not going to change.
This decision comes as part of our efforts is to restore Colart to a more sustainable position by being tougher on priorities that add value to the business.
We have communicated this decision to the people affected and we will be looking to support them during this closure process in line with China labour law.
If you have any questions please direct them to your line manager.
Mark Barratt
Chief Operations Officer