Jobs go as Adelaide chemical plant closes

ALMOST 100 jobs will be lost at a chemical plant in Adelaide after a potential buyer pulled out of the deal.

ADMINISTRATORS for Penrice, which owned the Osborne plant, had been negotiating a sale with an unnamed buyer since April.

But that deal has fallen through, meaning the plant will close and it 95 staff will be made redundant.The buyer blamed uncertainty about the future profitability of the plant, the expenditure required to achieve profitability and ongoing environmental issues contributed for its decision to pull out, administrators McGrathNicol said.Negotiations are continuing for the sale of Penrice's limestone quarry in Angaston, where operations continue as normal.Alternative ways to realise some value from the Osborne plant will now be pursued, McGrathNicol said.

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