Closure Decision
LyondellBasell and Covestro have decided to permanently close the Propylene Oxide / Styrene Monomer (POSM) production unit, known as PO11, at the Maasvlakte site in the Netherlands. This decision is driven by global overcapacities, increased imports from Asia, and high European production costs, which have impacted profitability.
Timeline and Process
The Maasvlakte site, operational since 2003, will undergo a shutdown process to be completed by the end of 2026. LyondellBasell will manage the safe shutdown and prepare for the asset's demolition.
Strategic Focus
LyondellBasell is prioritizing core assets that align with its technology differentiation and circularity strategy. The company is also reviewing its European Olefins & Polyolefins and Intermediates & Derivatives business units, considering alternative ownership for some sites.
Commitment to Stakeholders
Both companies are engaging with employees, European employee representatives, councils, and unions to manage the closure responsibly. They are also maintaining communication with customers, suppliers, and other value chain partners to ensure business continuity.
