Styrolution to close Swedish polystyrene site

Styrolution to close Swedish… Styrolution intends to close its 80 kiloton polystyrene production site located in Trelleborg, Sweden. The closure of the facility is scheduled to occur by the end of 2014 and will affect all 51 employees working at the site. Styrolution will continue to serve customers from its polystyrene sites located in Antwerp, Belgium and Wingles, France with the same quality, reliability and service standards they have come to expect from the company.

"The polystyrene market in Europe has been characterized by decreasing demand, overcapacity and underutilization", said Kevin McQuade, President EMEA, Styrolution. "These market dynamics have also affected Styrolution's polystyrene business in the region, making it necessary for the company to take this difficult step announced today. We acknowledge the impact this decision will have on our colleagues in Trelleborg who have made an outstanding contribution to the company. Styrolution remains fully committed to its polystyrene business and we are confident this measure will further strengthen our leading position in this important product segment in the region."

The planned closure is aimed at bolstering the long-term economic sustainability of Styrolution's polystyrene business in EMEA by further enhancing cost structures and maximizing utilization of its production assets in Antwerp and Wingles. Polystyrene is and will remain a strong pillar in Styrolution's portfolio, providing a robust commercial foundation for the implementation of its Triple Shift growth strategy, which calls for a focus on styrenic specialties and ABS Standard, as well as emerging markets and higher-growth industries.

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