Sabic has announced the closure of its petrochemical site in north-east England.
The Saudi Arabian firm, one of the world's largest petrochemical manufacturers, will shut its Olefins 6 cracker plant in Wilton, Teesside, after 46 years of it operating.
The exact number of job losses is not yet known but the firm currently employs 330 people at the site, the BBC reported.
Sabic said its decision was the result of a "thorough analysis aimed at optimising competitiveness", but Unite said the news was a "disgrace" from a profitable company.
The firm made a net profit of almost £300m last year but last month it was reported that Sabic could be looking to sell its European petrochemicals business amid high energy costs.
The Teesside Olefins 6 cracker facility produces the raw material ethylene to make building blocks for a variety of products.
The company produces chemicals, fertilisers, plastics and metals at its plant in Wilton, near Redcar, but also has storage and logistics facilities in North Tees and Teesport.
Sabic to shutter petrochemical plant in the UK
