Issue Date: February 18, 2008
Quebec's Petromont Will Shut Down
Pétromont, the polyethylene and olefins joint venture of Dow Chemical and Société Général de Financement du Québec, will suspend operations on April 30. The Montreal-based firm has annual sales of about $750 million and employs 325 people at two plants. The firm says the shutdown is the result of factors including a strong Canadian dollar and "persistent" difficulty in obtaining petroleum-based feedstock at competitive prices. Other firms are also shutting down operations in eastern Canada. LyondellBasell says it will stop producing high-melt-strength polypropylene in Varennes, Québec, in April, following earlier plans to close most other capacity at the site. Dow Chemical is closing a facility in Sarnia, Ontario, and the Ineos Nova joint venture is closing a polystyrene plant in Montreal.
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