v3.26.1
Plant Closure Provisions
6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Plant Closure Provisions

NOTE 9 – PLANT CLOSURE PROVISIONS

The Company has continuing plans to remediate manufacturing facilities at sites around the world as and when those operations are expected to cease, or we are required to decommission the sites according to local laws and regulations. The liability for the estimated plant closure costs includes costs for asset retirement obligations and environmental remediation liabilities.

The principal site giving rise to asset retirement obligations is the manufacturing site at Ellesmere Port in the U.K.. There are also asset retirement obligations and environmental remediation liabilities in respect of our other manufacturing sites, which are relatively insignificant.

 

Movements in the provisions are summarized as follows:

 

(in millions)

 

2026

 

Total at January 1

 

$

65.2

 

Charge for the period

 

 

3.2

 

Utilized in the period

 

 

(2.1

)

Exchange effect

 

 

(1.6

)

Total at June 30

 

 

64.7

 

Due within one year

 

 

(4.9

)

Due after one year

 

$

59.8

 

 

The charge for the six months ended June 30, 2026, was $3.2 million (six months ended June 30, 2025 $4.1 million). The current year charge represents the accounting accretion and a $1.4 million increase to the provisions for legacy operations in the United Kingdom. Amounts due within one year refer to provisions where expenditure is expected to arise within one year of the balance sheet date.