Recently, LyondellBasell and Covestro jointly decided to permanently close the propylene oxide/styrene monomer (PO/SM) production unit (PO11) at the Maasvlakte plant in the Netherlands.
LyondellBasell also confirmed that as part of the ongoing strategic review, it is considering finding a new owner for certain olefins and polyolefins (O&P) assets in Europe.
PO11 is a 50/50 joint venture that began operations in 2003 and uses LyondellBasell technology. It can produce 300,000 tons of propylene oxide and 635,000 tons of styrene per year.
The plant is currently in a shutdown state. It is reported that the operation of the PO/SM unit of the Maasvlakte plant will stop in December 2024. The plant was also in a shutdown state in July last year and has been intermittently closed for many years due to economic reasons.
A LyondellBasell spokesperson confirmed that fewer than 60 of all LyondellBasell employees, out of more than 160 people working at the Maasvlakte site, will be laid off.
The companies said that between now and the end of 2026, LyondellBasell will implement the process of closing the POSM plant and preparing it for demolition.
They said the decision was made after careful consideration and was driven by global overcapacity, strong growth in imports from Asia, and high production costs in Europe that put continued pressure on the profitability of the Maasvlakte site. Unfortunately, this situation is expected to continue, so long-term profitable production is not expected.
In 2024, LyondellBasell announced a strategic review of the European assets of its Olefins & Polyolefins (O&P) and Intermediates & Derivatives (I&D) business units.
