Management at the Great Lakes chemical plant on Anglesey are holding talks with local politicians on Wednesday to save the factory from closure.
The plant has been an employer on Anglesey for the past 50 years
Around 100 jobs look set to be lost at the Amlwch plant after the company announced on Tuesday that it intends to shut the site.
The Great Lakes chemical corporation, formerly known as Octel, has been in the town for 50 years, and is one of the world's leading producer of certain speciality chemicals for applications like water treatment.
Management say the factory cannot compete with Israeli and Jordanian businesses, which can extract bromine more cheaply from sea water than can be done on Anglesey.
The meeting will be held in Llangefni on the island, but at this stage it seems unlikely that the factory will be saved.
Anglesey Council is expected to press the Welsh assembly government for financial help in coping with such a major jobs blow in an isolated community.
Site manager Brian Macconnachie said: "These steps are being taken after a careful review of operational costs, increased competitive pressures and market conditions.
"Our employees have worked hard over the years to try to make the plant as efficient and productive as possible.
"Despite our efforts, the Amlwch site remains uncompetitive."
The company said employee discussions were expected to begin within the next 30 days and would be concluded as quickly as possible in accordance with British employment legislation.
The firm's only other site in Britain is in Manchester.