Lyondell reverses earlier decision to shut Chocolate Bayou HDPE plant

04-Sep-09

As demand for polyethylenes has got boosted by rising demand from Asia, Lyondell Chemical, has reversed its decision to permanently shut it 180,000 tons HDPE plant at Chocolate Bayou site in Texas, as per ICIS. Operating costs and HDPE margins have improved significantly for the company to reconsider its decision. Earlier, the plant was planned to be shut down permanently by 30 September. A hearing on August 11 was held by the bankruptcy court to consider approval plans to close the plant. This decision is cited to be independent of an objection that INEOS filed in bankruptcy court as it wanted to buy the plant.