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Polymers

Covestro cuts jobs, expands aniline

by Alex Tullo
November 2, 2018 | APPEARED IN VOLUME 96, ISSUE 44

 

Covestro is cutting about 900 jobs, more than 5% its total, worldwide as part of a program to slash $400 million in costs by 2021. The company says many of the jobs will be administrative and it has already consulted with the German Works Council. Separately, Covestro will spend $340 million on new aniline capacity in Belgium. Aniline is a precursor to methylene diphenyl diisocyanate (MDI), a polyurethane raw material. The German firm has been investing aggressively in MDI and recently announced a $1.7 billion MDI project in Baytown, Texas.

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