Styrolution to Close PS Plant at Trelleborg, Sweden
Styrenics producer Styrolution - until the end of this year a joint venture of Ineos and BASF - plans to close its 80,000 t/y polystyrene plant at Trelleborg, Sweden, by the end of this year. Some 51 jobs will be lost in the move.
The Frankfurt, Germany-based company said the planned closure is designed to bolster the long-term economic sustainability of its polystyrene business in Europe, the Middle East and Africa (EMEA). In particular, it is expected to improve cost structure and boost capacity utilization at its facilities at Antwerp, Belgium and Wingles, France.
"The polystyrene market in Europe has been characterized by decreasing demand, overcapacity and underutilization," said Kevin McQuade, Styrolution's president for EMEA. However, he stressed that the company remains fully committed to its polystyrene business, which will provide a "robust commercial foundation" for the implementation of its Triple Shift growth strategy focusing on styrenic specialties.
In a deal expected to close by the end of 2014, BASF is selling its share in the 50:50 styrenics joint venture to its Partner.