LyondellBasell and Covestro announce permanent closure of PO11 unit at Maasvlakte
LyondellBasell Industries NV Ordinary Shares Class A (Netherlands) (LYB)
Last lyondellbasell industries nv ordinary shares class a (netherlands) earnings: 5/1 06:30 am
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Source: GlobeNewswire
MAASSVLAKTE, Netherlands, March 18, 2025 (GLOBE NEWSWIRE) -- LyondellBasell (LYB) and Covestro have jointly decided to permanently close the Propylene Oxide Styrene and Monomer (POSM) production unit (PO11) at the Maasvlakte site in the Netherlands. This decision comes after thorough and careful consideration and is driven by the continued pressure on Maasvlakte's profitability due to global overcapacities, a strong increase of imports from Asia and high costs of European production. Unfortunately, this situation is expected to continue, so longer-term profitable production is not anticipated. “While the decision to shut down the PO11 unit is difficult, we must ensure all assets within our portfolio are a long-term strategic fit,” said
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- 1/31/25 - In-Line
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- 3/17/25 - Form 8-K
- 3/13/25 - Form 4
- 3/7/25 - Form 3
- LYB's page on the SEC website