Formosa Plastics USA said on Friday that it is closing a specialty polyvinyl chloride (PVC) resin plant in Delaware at the end of September and will decommission the site by year-end.
The closure of the Delaware City, Delaware plant will affect about 100 workers, the company said in a prepared statement.
The 50-year-old facility has a nameplate capacity of about 65,000 tonne/year of dispersion-grade resins, used for flexible applications of PVC, such as floor tile, sealants and other uses.
Those operations will now be performed at the company’s Point Comfort, Texas complex with a capacity of 850,000 tonne/year. Point Comfort is a new and more efficient plant with recent expansions, the company said in its statement, declining further comment.
US market participants said that the closure of the plant has been expected, but that it took longer to prepare the Point Comfort production than anticipated.
The 400-acre (162-ha) site in Delaware City has been the site of pollution complaints.
Beside, Formosa, major US PVC producers include Occidental Chemical, Westlake Chemical and Shintech.
By Bill Bowen
Source: ICIS News
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).