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February 2010
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Total takeover of PS facility
Total Petrochemicals of France has expressed interest in taking over a PS facility in Feluy, after its owner Polimeri’s decision to cease production.

The company says “concrete proposals were formulated at the end of the recent discussions with Polimeri.” Based on a new service contract, Total will acquire the Polimeri facilities and the right to operate the production lines, with the exception of the expandable polystyrene (EPS) unit reactors. This would enable Total to continue PS production, on behalf of Polimeri, until the end of September 2011. However, EPS production would cease at the end of September 2010 on the request of Polimeri.

The company says it is undertaking the deal to “mitigate the social consequences and economic impacts of Polimeri’s decision”, which will affect the loss of 130 jobs.

A subsidiary of Italian oil company Eni, Polimeri runs ten facilities in Europe and had a turnover of EUR6.3 billion in 2008.

Total’s Feluy polymer facility is one of the world’s major petrochemicals platforms, with a capacity in excess of 1.3 million tonnes/year. Annual capacity of the three PP production lines is 930,000 tonnes, making it Europe’s largest PP production facility. It also produces HDPE (170,000 tonnes), as well as operates a facility on behalf of Polimeri with annual production of 200,000 tonnes of GPPS, HIPS and EPS. Polimeri notified Total of its decision to renounce this operating contract last year.

 
 
 
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