Styrolution intends to close its polystyrene site in Trelleborg, Sweden
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.
Kevin McQuade, President EMEA, Styrolution: "The polystyrene market in Europe has been characterized by decreasing demand, overcapacity and underutilization. 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."