MOSCOW (MRC) -- Effective May 1st, 2017, Covestro will raise the selling prices for its Desmodur and Baytec elastomer systems, which include prepolymers, polyols and curatives, by up to 9%, said the producer on its site.
The magnitude varies depending upon the product line.
The price increase will be applied globally as contracts allow.
Customers will be contacted by Covestro Elastomers’ Sales Representatives to address the price increase for their specific products.
As MRC wrote before, Covestro is moving forward with a repurposing of its production operations in Brunsbuttel, Germany. In July 2016, the Board of Management officially approved an expansion of production capacity for the foam component MDI (feedstock for polyurethane) at the site. An existing, idled plant for the precursor TDI will be converted for production of MDI. The plans call for roughly doubling production capacity at the site to a total of approximately 400,000 metric tpa of MDI. Commissioning of the new plant complex is scheduled for late 2018.
With 2016 sales of EUR 11.9 billion, Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc. Covestro has 30 production sites around the globe and employs approximately 15,600 people (full-time equivalents) as of the end of 2016.
MRC