ROTTERDAM, Netherlands, June 27 /PRNewswire/ -- Equistar Chemicals, LP will stop producing low density polyethylene (LDPE) at its Pasadena, Texas, tubular process unit by the end of the year, parent company LyondellBasell Industries announced today. Production will shift to other sites.
"The decision to stop producing LDPE at this facility was made after an extensive review, which demonstrated that the unit was no longer financially viable," said Jerry Parker, Vice President of Polyethylene Americas.
The Pasadena LDPE unit is operated for Equistar by Sunoco. Equistar owns and operates three other LDPE facilities in North America -- in Clinton, Iowa; La Porte, Texas; and Morris, Ill. In addition, LyondellBasell Industries owns a refinery and three other facilities that produce chemicals and polyolefins in Pasadena.
"High operating costs at the site and unfavorable market economics have provided inadequate financial returns. With the challenging market conditions in North America, continued growth requires economies of scale, low conversion costs and the ability to produce value-added products," Parker said.
LyondellBasell Industries is one of the world's largest polymers, petrochemicals and fuels companies. LyondellBasell is the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell (http://www.lyondellbasell.com/) is privately owned by Access Industries.
SOURCE: LyondellBasell Industries
CONTACT: Mark Mendelson of LyondellBasell Industries, +1-302-683-8141,
mark.mendelson@lyondellbasell.com
Web site: http://www.lyondellbasell.com/