29 May 2008 23:03 [Source: ICIS news]
HOUSTON (ICIS news)--Tyre producer Continental AG - a major user of styrene butadiene rubber (SBR) - will begin laying off employees at its Elma plant in New York on 13 June ahead of the scheduled end-2009 shutdown of the facility, a news publication reported on Thursday.
Continental was to have begun the workforce reduction at the plant during the summer of 2007. However, higher-than-expected orders and employee attrition delayed the start of the workforce reduction, according to Buffalo Business First.
Passenger car and truck tyres are among the main products that use styrene butadiene rubber (SBR). The SBR market has been on the upswing in 2008 due to rising feedstock and energy costs.
SBR spot prices for 1502 non-oil grade product were 122-130 cents/lb FOB (free on board) US Gulf (USG), while 1712 oil extended grade spot product was notionally at 112-120 cents/lb FOB USG, according to global chemical market intelligence service ICIS pricing.
US SBR producers include International Specialty Products (ISP) and Lion Copolymer. Major buyers include ?xml:namespace>
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|