INEOS Styrenics to close PS, SM units at Marl at end of 2012
20 March 2012 10:13 [Source: ICIS news]
LONDON (ICIS)--INEOS Styrenics will close its polystyrene (PS) and styrene monomer (SM) units at ?xml:namespace>Marl in Germany at the end of 2012, the group said late on Monday.
The decision to close the plants follows the cancellation of a production agreement by styrenics major Styrolution.
Frankfurt-headquartered Styrolution announced it will stop taking product from the INEOS-operated SM and PS units at Marl in order to improve the competitive position of its European styrene-based commodity business, while maximising capacity utilisation at our other sites.
All 110 staff affected by the decision will be offered alternative roles within the INEOS group or Styrolution, a joint venture between Germany’s BASF and Switzerland-headquartered INEOS, it said.
Production of SM and PS is scheduled to continue until the end of the year.
“Over recent years our staff have worked exceptionally hard and have improved efficiency. But a review of business strategy by Styrolution has made it clear that the relatively small scale PS and SM assets at Marl put the two units at a disadvantage in today’s market,” said Gerd Franken, CEO of INEOS Styrenics.
The INEOS site at Marl consists of four plants, which produce 110,000 tonnes/year of expandable polystyrene (EPS), 260,000 tonnes/year of cumene, 180,000 tonne/year of PS and 350,000 tonne/year of SM.
INEOS said its production of expandable polystyrene (EPS) and cumene at the Marl site will continue.By: Franco Capaldo+44 (0)20 8652 3214
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