The world's largest styrene factory, or is it up for sale?

Total Energy and SABIC plan to sell U.S. styrene production line

According to Bloomberg on November 20, French oil giant Total Energies SE and Saudi Basic Industries Corp. are working with a consultant to sell their styrene and polystyrene production lines in Cavill, Louisiana.

Total Energy and SABIC are considering selling their giant U.S. plant in Carville, Louisiana, which makes styrene and polystyrene lines, the chemical raw materials needed for everything from plastic packaging to disposable cups and insulation, according to people familiar with the matter, who spoke on condition of anonymity to discuss private information. The two giants are working with a consultant. The lines could be worth at least $1 billion in total. Work is in the early stages and the company may eventually decide to keep the plant, the person said.

Representatives for TotalEnergies declined to comment. SABIC, Saudi Arabia's largest chemicals manufacturer, did not respond to a request for comment.

According to TotalEnergies' annual report, the French energy giant and the Saudi group jointly own the Cos-Mar Company, a styrene production plant in Carville with an annual capacity of nearly 1.20 million tons per year. Its polystyrene division is owned by Total. According to the TotalEnergies website, they are the largest styrene and polystyrene plants in the world.