HORGEN, Switzerland—Styron Europe GmbH has reduced its styrene-butadiene latex output in Europe by 70,000 metric tons.
The capacity reduction was completed over the last several months at the company's factories in Hamina, Finland; Rheinmunster, Germany; and Terneuzen, Netherlands.
Styron cited overcapacity in Europe as the prime reason for the move. It said that because of to declining demand in the European paper coating market and current market conditions, a reduction was needed to regain a healthy supply and demand balance.
“The current conditions are no longer sustainable for Styron's SB latex business in Europe,” according to Christian Page, the firm's business director for latex in Europe, the Middle East, India and Africa. “Therefore, we have taken the necessary steps to make improvements by implementing a capacity reduction in this region.”