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The styrenics operations is owned by Huntsman Chemical Company Australia Pty Ltd located at West Footscray, Australia.
Products produced at the Australian styrenics site represent less than 2% of Huntsman's 2008 global sales.
The company expects to cease operation of the West Footscray styrene plant the end of 2009, with subsequent closure of its polystyrene and expandable polystyrene plants in early 2010. It will book closure costs in 2009 of approximately USD25m (primarily severance) and expects to incur other closure-related costs of approximately USD15m in 2010.
According to the "Corporate and Other" segment of Huntsman's financial statements, the styrenics operations had posted an adjusted EBITDA loss of almost USD24m for 2008, based on an operating loss of approximately USD29m less impairment charges for the year of USD5m.
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