By OGJ editors
HOUSTON, June 16 -- Union Carbide Corp., a wholly owned subsidiary of Dow Chemical Co., said it will proceed "as planned" with the permanent shutdown Monday of its Texas City, Tex., olefins plant. The decision to close the plant is "in line with the previously announced timing" of mid-2003.
The closure of the company's Texas City plant as well as the scheduled closing of its Seadrift, Tex., olefins plant by yearend is part of Dow's "comprehensive US Gulf Coast Ethylene Review, which Dow announced late 2001," the company said. "Since then, projects have been undertaken to maintain the existing site integration benefits at both locations," it said.
In January, Bill Stavropoulos, Dow chairman, president and CEO, assured that despite the closings that "the supply of olefins to downstream businesses has been secured through internal efficiencies and long-term purchase agreements."
Dow reported it has made "no decisions" on employee layoffs at the Texas City site.