Ineos will permanently close its Addystown, Ohio, ABS resin production site in the first quarter of 2025, blaming competition from overseas imports.
The Frankfurt, Germany-based company announced the decision Oct. 30.
"Over the past few years, we have seen the ABS market become increasingly competitive, particularly with growing competition from overseas imports," said Steve Harrington, CEO of Ineos Styrolution and Ineos ABS.
"After a thorough analysis, we concluded that the substantial investment needed to continue operations and achieve profitable cost competitiveness makes this site no longer economical," Harrington said.
"This difficult yet necessary decision is driven primarily by external market conditions and is not a reflection of the performance or dedication of our team in Addyston."
The Addyston site makes ABS and styrene acrylonitrile (SAN) polymers that are used in automotive, household goods, health care, construction and other markets. It has a capacity of 400 million pounds per year.
The company said that Ineos, through its Styrolution business, "remains dedicated to serving the North American ABS market and will continue to serve affected customers from our other production facilities in North America and within its global footprint."
"Our focus is on the future — we are taking steps to strengthen our position in the near term and ensure a strong foundation for our continued success," Harrington said. "We remain committed to supplying our customers with a comprehensive range of high-quality styrenic polymer grades and ensuring both global availability and local production."
The announcement comes days after Ineos Styrolution announced that it will not restart its styrene monomer production site in Sarnia, Ontario, which has been shut down since April 2024.
The Addyston plant dates back to the 1880s when Matthew Addy opened the Addyston Pipe Works on the Ohio river. The site became a polymer producer in 1953 with Monsanto.
Ineos acquired the site in 2007.