CHEMICALS company SI Group will close its alkylphenol manufacturing facility on Jurong Island in the second half of 2025, it said in a media release on Wednesday (Sep 25).
The company attributed the closure to high costs in Singapore and “substantial changes in the antioxidant value chain” in the region in recent years.
Senior vice-president and chief commercial officer Joey Gullion said that the group’s manufacturing facility in Singapore has been a “valuable asset” for its past growth and global presence.
“However, the current supply-demand balances in Asia and the cost to manufacture in the region, make this a necessary move to ensure the long-term sustainability of our global business.”
The company – which operates 19 manufacturing facilities worldwide – said that it will continue to supply alkylphenols with its sites in Europe and the Americas.
It opened its Jurong Island plant in 2006 to provide alkylphenols to consumers in Asia-Pacific, and for the production of its antioxidant goods.
“The region is important to our business, and we believe this new approach will help us balance the market dynamics with our cost position,” said the company’s president and chief executive officer David Bradley.
SI Group added that it will provide support and assistance to all employees impacted by the plant closure.
The company – which develops and manufactures performance additives, process solutions, pharmaceuticals and chemical intermediates – employs about 1,800 workers globally.
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Publish date : 2024-09-25 07:20:00
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