Mitigating Reputational Risk And Potential Business Disruptions Related To U.S. Plant Closure
Lucite International, a global leader in the design, development and manufacture of acrylic-based products, retained FTI Consulting to advise on the mitigation of business disruption and reputational risk as the company exited its manufacturing facility in Parkersburg, West Virginia. Specifically, the company sought to maintain its customer relationships as much of the Parkersburg production transferred overseas and to mitigate media and community criticisms of its strategy.
Our Role With Lucite International
FTI Consulting developed detailed contingency plans to respond to rumors and speculation with varying degrees of credibility to address the significant risk of leaks associated with the company’s need to provide early notification to its landlord and contract partner. The strategy was deployed in response to questions from local media, and the resulting story incorporated Lucite International’s key messages in a balanced article. FTI Consulting also developed a detailed communications plan that ensured all employees, customers and other business partners received timely and accurate information about the plant closure when it was formally made public and drafted all of the related emails, scripts and instruction documents for the announcement.
As a result of these preparations, Lucite International’s executive management and customer account managers were well prepared to address questions received from employees and customers, and the closure was fairly represented in the media.