Flint Hills Resources has said it will demolish its closed petrochemical plant in Odessa, Texas, despite local efforts to buy and reopen it.
The Koch Industries subsidiary said it will not sell the plant as it cannot be economically reopened.
The city of Odessa, the Rexene Employees Association and Constellation Capital have come up with a deal to buy and reopen the plant, which is more than 50-years old, but this has been rejected by Flint Hills.
Reinvestment during a recession was deemed to not make sense. The plant closed last year making its 395 full-time employees redundant.
