Following workforce cuts and plant shutdowns announced by Dow Chemical and Celanese, major chemical players including LyondellBasell, BASF and Huntsman have rolled out business closures and asset divestments recently.
LyondellBasell to Shut Italian PP Plant
On June 11, local media reported that Houston-headquartered LyondellBasell (LYB) plans to permanently close its last polypropylene (PP) plant in Brindisi, Italy by the end of this year. The closure will affect 81 direct employees and another 150 staff across related supporting sectors.
BASF Halts EPS Production in South Korea
On June 8, BASF confirmed the shutdown of its expandable polystyrene (EPS) production unit at the Ulsan plastics complex in South Korea. All related production and operations are set to cease in mid-June 2026.
Huntsman Sells Aftermarket Automotive Business
On June 5, Huntsman announced the divestment of its Italian automotive aftermarket subsidiary Huntsman Gommette to Trelleborg Group for 42.5 million euros. The final transaction value will be adjusted in accordance with standard closing terms.
PE prices kept declining this week amid sluggish trading activity. Multiple production units including those at China National Petroleum & Chemical Corporation and Sichuan Petrochemical are scheduled to restart, leading to higher output. Market forecasts indicate PE prices will continue to trend downward next week.
Post time: Jun-15-2026