25 June 2009 10:06 [Source: ICIS news]
LONDON (ICIS news)--BASF plans to close an 80,000 tonne/year polystyrene plant at its site in Ludwigshafen, Germany, due to poor market conditions for the product, the chemicals major said on Thursday.
BASF said it had been hit by decreased demand for PS and the affected plant had been out of operation since mid-April.
Effective 30 June, the closure would reduce BASF’s total European PS capacity by about 15% to 540,000 tonnes/year.
“We are working intensively to restructure our styrenics business and increase its profitability,” said head of the styrenics unit Joachim Streu.
“In doing so, we are investigating all options in order to strengthen the business on a sustainable basis. This also includes reducing production capacities. We nevertheless still intend to sell this business,” he added.
The plant was set to be dismantled, with personnel working at the plant transferred to other positions within the company.
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Remaining PS production at the German site would be used internally to produce branded insulation products.
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