Polymer producer Covestro plans to close three of its four polycarbonate production lines at its site in Antwerp, Belgium, and stop producing polycarbonate precursor bisphenol-A. The decision affects up to 260 of the 970 staff at the site – mostly in production and support roles, the company stated.
Covestro attributed the decision to a combination of ‘high production and energy costs, weak demand and increasing international competition’. The remaining polycarbonate production line will focus on higher value speciality grades, such as heat-resistant materials for medical and other applications.
‘Commodity production in Europe is increasingly difficult to operate competitively, while we continue to see attractive opportunities in high-value specialty materials,’ said chief technology officer, Thorsten Dreier.
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