12 February 2009 17:54 [Source: ICIS news]
HOUSTON (ICIS news)--LyondellBasell said on Thursday it would indefinitely idle its Chocolate Bayou olefins plant in Texas due to weak monomer demand amid the faltering US economy.
The company plans to cut about 220 jobs at the site, which is part of its Equistar subsidiary.
"Current projections for ethylene demand indicate that we can meet the needs of our customers without this plant in operation," said Vaughn Deasy, LyondellBasell’s vice president of base chemicals.
Deasy said in a press release that the company could not maintain staffing at previous levels while the plant remains indefinitely idled.
LyondellBasell has 544,000 tonnes/year of nameplate ethylene capacity at Chocolate Bayou.
The company on 6 January filed for Chapter 11 bankruptcy protection in the US.
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