One of Britain’s last major chemical plants at risk as energy prices surge

If costs stay high for the next three months, US owner Peter Huntsman says he will close the site on Teesside

The American owner of one of Britain’s last major chemicals plants has said he will close the site if energy prices remain at their current levels for the next three months.

Peter Huntsman, whose family built Huntsman Corporation into a global chemicals empire, said the recent jump in gas prices fuelled by the Iran conflict was “another nail in the coffin” for European heavy industry.