Axeon Specialty Products LLC is shuttering the U.S. largest asphalt refinery when the country might need it the most.
The Stamford, Connecticut-based company announced last month it plans to close its Paulsboro, New Jersey, refinery, and convert it into a terminal. The planned shutdown comes as President Donald Trump has pledged to build new roads, highways and bridges across the country. The U.S. would need 63% more asphalt than its consumes now just to pave roads at the rate it reached a decade ago, Energy Information Administration data show.
