Covestro declares force majeure on polyurethane raw materials
Due to an unforeseen production outage at a supplier of nitric acid, Covestro’s European production facilities for the isocyanates MDI and TDI can currently only be operated at reduced capacity. Covestro therefore declared force majeure on October 6, 2016.
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 find alternate solutions.