Lanxess to shut Belgium butyl rubber, Texas EPDM plants amid weak demand
Soft underlying demand in the second half of 2012 has continued into 2013 across most businesses, against the usual seasonal trend. Lanxess said the closures are to counter the current soft demand.
Lanxess plans to temporarily shut down its butyl rubber plant in Belgium and its ethylene-propylene-diene monomer (EPDM) production in Texas during the coming weeks, the Germany-based specialty chemicals company said Thursday.
"Soft underlying demand in the second half of 2012 has continued into 2013 across most businesses, against the usual seasonal trend," the company said in an unscheduled earnings update.
"In order to counter the current soft demand, the company is applying its proven flexible asset management strategy," the statement added.
Lanxess said it expects demand to pick up during the year and "is strategically well positioned to benefit from the expected recovery in the global economic development".