INEOS officially announce permanent closure of site

INEOS have announced another major decision.

The company has continued to make significant changes across its global operations.

The announcement comes during a significant period for Manchester United and the hierarchy.

The club recently confirmed a major milestone in plans for their proposed new 100,000-seater stadium, a project which is expected to play a huge role in shaping the club’s future under the ownership of Sir Jim Ratcliffe and INEOS.

While much of the recent focus has centred on Old Trafford and the club’s long-term redevelopment ambitions, INEOS have now confirmed a significant development involving one of their industrial businesses.

According to an official statement released on INEOS’ official website, the company will permanently close its polystyrene production site in Channahon, Illinois.

INEOS confirm closure plans

The facility, which has been operating since 1960, currently employs around 100 people.

It has a production capacity of approximately 400,000 metric tonnes.

INEOS Styrolution explained that the decision was driven by a combination of market conditions, ongoing margin pressures, site costs and underutilisation.

Chief Executive Officer Steve Harrington said that continued oversupply across the industry had created economic challenges which made operations at the site no longer viable.

The company expects the closure process and decommissioning work to be completed during the fourth quarter of 2026.

Despite the shutdown, INEOS Styrolution stressed that it remains committed to the North American market and will continue production through its facilities in Decatur, Alabama, and Altamira, Mexico.

Manchester United supporters will be familiar with the wider INEOS group due to Sir Jim Ratcliffe’s involvement at Old Trafford.

Beyond United, the company also owns French club OGC Nice.

Earlier this month, reports linked former Manchester Untied forward Anthony Martial with a possible move to the Ligue 1 side.

INEOS stated that safety will remain its highest priority throughout the closure process.

They pledged support for affected employees as the transition moves forward.