ADDYSTON, Ohio — The company at the center of a styrene leak that Forced evacuations and closures in Whitewater Township. announced that it will permanently close its plant in Addyston.

INEOS said in a statement on October 30 will begin a “safe and responsible decommissioning process” at its production site in Addyston in the second quarter of 2025. The site manufactures acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) polymers that are used in several different industries.

CEO Steve Harrington said the decision to close the plant came after the company analyzed the economic value of the plant and the investment needed to remain competitive.

“This difficult but necessary decision is primarily driven by external market conditions and is not a reflection of the performance or dedication of our team at Addyston,” Harrington said in a statement. “The Company recognizes the significant impact this decision will have on affected employees and is fully committed to respectfully supporting them during this transition.”

Harrington did not notice the styrene leak in the release.

Addyston Mayor Lisa Mear said the closure is “devastating” for the town, which gets more than a third of its total tax revenue from income taxes on plant employees.

“This will seriously affect our community and our people here,” Mear said. “I would definitely like to have some answers about how they plan to retire and what this will look like for us.”

Plant officials could not be reached for comment on the “decommissioning process” it announced in Wednesday’s news release. They also did not answer questions about how many people still work at the plant, which began as a pipe and steel company in 1889 and moved into plastics when Monsanto bought it in 1952.

Authorities believe a failed stabilizer caused styrene to leak Sept. 24 from a boxcar on US 50 near Kilby Road. The day of the mishap, The Federal Emergency Management Agency told Hamilton County officials that an explosion could kill 227 people and seriously injure 281 more.

An Indiana Central Railroad official said it allowed styrene tankers to remain on its tracks before the leak began because its customer, the INEOS plant, did not have the capacity to receive them.

So far, the only public statement made by INEOS about the incident is in a filing in federal court where it successfully argued to combine five pending lawsuits into one proposed class action case. The consolidated lawsuit seeks more than $5 million on behalf of thousands of Ohio residents, including people who lived outside the evacuation zone but were still affected by the styrene leak.

“INEOS does not admit any fact or the existence of any class, injury or liability to any defendant. INEOS asserts that the allegations made in the state court actions are for the sole purpose of deportation,” attorneys from the law firm Taft Stettinius & Hollister wrote in an October court filing.