Dow Europe to close down Terneuzen PS production

11 December 2008 11:51  [Source: ICIS news]

LONDON (ICIS news)--Dow Europe plans to permanently close its 50,000 tonne/year polystyrene (PS) production in Terneuzen, Netherlands, as part of its transformational strategy, a company source confirmed on Thursday.

“Demand for PS products has declined dramatically over past months and there is no short-term sign of recovery,” said the source.

“In addition to declining demand, the business is facing heavily compressed margins,” he added.

PS production was running as low as 50% at some competitor European PS assets in December, to accommodate weak demand.

Dow Chemical recently announced that it would cut 5,000 full-time jobs, close 20 plants and sell businesses in a major restructure prompted by the economic downturn.

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By: Linda Naylor
+44 20 8652 3214

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