A Houston-area chemical and metals company plans to end its operations next year and lay off its workforce of 83 employees.
Gulf Chemical & Metallurgical Corp., based in Freeport, recycles spent petroleum catalysts into metals.
The company, long plagued by low metal prices, declared bankruptcy in June in hopes of securing a buyer and debt relief, but The Facts of Clute, Texas, reported this week that those efforts were unsuccessful.
The plant's doors will close in April and its workforce will receive six months of severance pay.
The company will reportedly continue to process its current catalyst stockpiles until that supply is exhausted.