INEOS Styrolution’s statement on the Coronavirus situation
INEOS Styrolution is closely monitoring the evolution of the Coronavirus situation and following the World Health Organisation travel advice. In order to minimize the impact of travel restrictions, employees are advised to maximize the use of video conferencing instead of travelling. In China, INEOS Styrolution complies with Chinese Government requirements. Going forward, only business critical travel to and from and within Asia is permitted. The company is regularly updating staff on the situation and on necessary precautions to take.
With regard to business impact, China domestic travel restrictions are posing some logistical challenges. We are currently running our Chinese Polystyrene plants at 60% – limited primarily by external logistics constraints. Our Polystyrene and ABS plants in Ulsan, South Korea are currently largely unaffected.
Customers in EMEA and the Americas are not expected to be impacted by the situation in the short term.
INEOS Styrolution is constantly evaluating the situation and monitoring any potential effects to production and deliveries and will aim to mitigate via alternative plans where necessary.
INEOS Styrolution will provide updates as the situation evolves. Note in this context that the next investor call is scheduled for March 3, 2020.