The Two Chemical Giants Jointly Decided to Permanently
Shut down One Million Tons of Production Capacity
On March 18, global chemical giants LyondellBasell and Costco jointly announced that they have decided to permanently shut down the propylene oxide/styrene monomer (PO/SM) production unit at their Maasvlakte site in the Netherlands.
The plant, a 50/50 joint venture between the two companies, began operations in 2003 and has the capacity to produce 300,000 metric tons of propylene oxide and 63.5 metric tons of styrene per year, and is currently shut down, according to the report. Production has been intermittently shut down for many years due to economic reasons.
The companies said the decision was made due to global overcapacity, strong growth in imports from Asia, and high production costs in Europe continuing to put pressure on the plant's profitability, and no long-term profitability is expected in the future. Between now and the end of 2026, LyondellBasell will implement a program of safe closure and prepare for the dismantling of the facility.
In 2024, LyondellBasell announced a strategic review of the European assets of its Olefins and Polyolefins (O&P), Intermediates and Derivatives (I&D) business units. LyondellBasell has revealed that it is considering finding new owners for its European olefins and polyolefins (O&P) assets, although no decisions have been made.
From http://www.ccin.com.cn/.
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