One of Britain’s last major chemical plants at risk as energy prices surge
AI Summary
Huntsman Corporation, the American owner of a major UK chemical plant in Wilton, Teesside, is threatening to close the facility within three months if high energy prices persist. CEO Peter Huntsman cites surging gas prices, exacerbated by the Iran conflict, as making the UK operation the most expensive globally for producing aniline, a chemical used in various products. The plant, employing 80 people, is one of the last remnants of Imperial Chemical Industries (ICI). Huntsman's warning reflects broader concerns about the impact of energy costs on European heavy industry, as the company has already cut jobs and closed facilities due to high energy costs. Unlike Huntsman's operations in the US, China, and the Middle East, its UK and European sites are heavily exposed to volatile international gas markets.
Article Analysis
Key Claims (5)
AI-ExtractedThe factory in Wilton, on Teesside, employs about 80 people and makes aniline, a chemical used in everything from car seats to aircraft components.
Huntsman Corporation had already cut nearly 10% of its global workforce last year – about 500 jobs with the largest share in Europe.
Production output has fallen by 60% since 2021, according to the Chemicals Industries Association, with at least 25 site closures since then.
If today’s economics were to stay in place for the next three months, I would shut down my [UK] facility and I’d be importing product from China or the United States.
The American owner of one of Britain’s last major chemicals plants has said he will close the site if energy prices remain at their current levels for the next three months.
Key Entities & Roles
Keywords
Sentiment Analysis
Source Transparency
This article was automatically classified using rule-based analysis.
Topic Connections
Explore how the topics in this article connect to other news stories
Find Similar Articles
AI-PoweredDiscover articles with similar content using semantic similarity analysis.