Infineum Argentina, a joint venture of U.S.-based ExxonMobil and Anglo-Dutch oil giant Shell, plans to close its petrochemical additives plant in Argentina.
The decision to close Argentina’s only chemical additives plant is the result of company-wide restructuring rather than of the country’s current economic crisis.
The decision to close the plant is consistent with a move toward fewer – but larger and more efficient – manufacturing facilities in the region.
Infineum Argentina is located inside the Esso refinery facilities in the city of Campana, some 130 kilometers (81 miles) from Buenos Aires, and is functioning at only 62 percent of its production capacity to manufacture 16,000 tons of additives annually.
Infineum’s sales plummeted from $250 million in 2000 to $13 million last year.
