LYB & Covestro Decide Permanent Shut Down of PO11 Unit at Maasvlakte

LyondellBasell Industries N.V. (LYB) and Covestro announced to permanently shut the Propylene Oxide Styrene and Monomer (POSM) production unit (PO11) at the Maasvlakte site in the Netherlands. The Maasvlakte site is a joint venture between the two companies. This decision was taken after careful consideration of the continued pressure on Maasvlakte's profitability due to global overcapacities. High costs of European production and strong increase of imports from Asia also led to the move. The companies expe ...