LyondellBasell and Covestro announce permanent closure of PO11 unit at Maasvlakte
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LyondellBasell and Covestro have decided to permanently close their PO11 unit at Maasvlakte due to profitability pressures from global overcapacities, increased Asian imports, and high European production costs.
March 18, 2025 | 1:15 pm
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NEGATIVE IMPACT
Covestro, in partnership with LyondellBasell, is closing the PO11 unit at Maasvlakte due to similar profitability pressures.
Covestro's involvement in the closure suggests shared challenges in the European production landscape, potentially affecting investor sentiment negatively in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
LyondellBasell is closing its PO11 unit at Maasvlakte due to profitability issues from global overcapacities and high production costs.
The closure of the PO11 unit indicates a strategic move to cut losses from an unprofitable operation. This could lead to short-term negative sentiment as it reflects challenges in maintaining profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80