INEUS Benzene Collar to Shut down US PS Device

Steve Harrington, CEO of INEX Benzene Collar, said: "Continued pressure on profits and overall overcapacity in the sector are the core reasons to this shutdown. We have comprehensively evaluated the market conditions, the overall sector operating rate, the cost structure of the plant and the prolonged sector outlook, and finally determined that the Chanahun plant no longer has the economic benefits of sustained operation." Ieos benzene collar will maintain healthy production at two other production sites in North America, namely, the Decatur plant in Alabama and the Altamira plant in Tamaulipas, Mexico.

Greg Fedis, president of Ireos Benzyl Americas, said: "We are always optimistic about the consumption value that polystyrene creates to downstream customers. By shrinking production capacity and concentrating on greater efficient production bases, we can both stabilize supply to protect customer demand and enhance our prolonged competitiveness in a complex market ecological stability."