17 September 2009 11:12 [Source: ICIS news]
LONDON (ICIS news)--INEOS NOVA has announced its intention to close permanently its 90,000 tonne/year polystyrene (PS) plant at Breda in the Netherlands, Pierre Minguet, the company’s business director of PS, said on Thursday.
Customers would be served from the company’s other PS lines in ?xml:namespace>
“We remain completely committed to PS,” said Minguet, “but contribution margins are very low.”
The site currently employs 50 people.
"We recognise the impact of such a decision and will work hard to make this transition as smooth as possible for our employees and the
This latest plan to shut down PS capacity in
The PS industry had been suffering from oversupply, even after 13% of installed capacity was brought down in 2006.
BASF had closed 25% of its PS capacity in
PS producers had been complaining of unsustainable margins for several years.
General purpose PS (GPPS) net prices at medium-sized accounts were trading around €1,000/tonne FD (free delivered) NWE (northwest
The oversupply problem in the PS industry was not restricted to
Demand had been dwindling in many sectors as technological advances left PS volumes weak. A couple of PS sellers reported August volumes at a record low in
PS producers in
($1 = €0.68)
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