The global chemical industry has seen its share of challenges, but the sector has traditionally mustered its considerable resources to manage them with a minimum of casualties. Crisis here, recession there, when all blows over, it‘s “business as usual.”
Covestro is again putting on hold its previously announced plans to build a new 500,000 t/y plant for polyurethane precursor MDI.
A recession is headed for Europe that will be deeper and last longer than the financial crisis of 2008, Markus Steilemann, CEO of engineering plastics producer Covestro, predicted in an interview with a German business newspaper.
Virtually all areas of our lives would be inconceivable without products that come directly or indirectly in contact with chemical production: It affects the modern office environment, our private lives and thus our well-being and life fulfilment including health, leisure and personal protection.
