Covestro is unable to fully compensate for the missing quantities of raw materials through purchases from other manufacturers. Its raw material supplier currently plans to restart its facility in the week of December 11, 2016. On the basis of this information, Covestro is striving to gradually restore its production output to a normal level.
"We deeply regret this restriction and hope to be able to resume full deliveries of MDI, TDI and by-products to our customers soon," said CEO Patrick Thomas. "Despite the extent of this issue, we in total do not expect a negative impact on our declared business targets for 2016."
During the force majeure period, Covestro is keeping its customers and suppliers informed about the situation and is helping them to find alternate solutions.
With 2015 sales of EUR 12.1 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and as of the end of 2015 employed approximately 15,800 people (full-time equivalents).
Find more information at www.covestro.com. Follow us on Twitter: www.twitter.com/CovestroGroup