Covestro announced on October 15 that it has started a formal information and consultation process with employee representatives in Belgium over the proposed restructuring. The Antwerp site has 240,000 mt/year of polycarbonate nameplate capacity across four operational lines, and S&P Global Energy CERA estimates its BPA capacity at about 245,000 mt/year.
The remaining polycarbonate line would focus on higher-value specialty grades, including heat-resistant APEC materials, while the company would source BPA from its global network or external suppliers if local production ceases. Covestro's previously announced new aniline unit at Antwerp will proceed as planned.
Covestro said global polycarbonate capacity has grown about 30% since 2021, with more additions planned, and that Antwerp operations have been increasingly loss-making since 2022. Platts assessed DDP NWE BPA at €1,770/mt on October 13, PC extrusion grade at €2,000/mt and GP molding grade at €2,300/mt on October 14.
CEO Markus Steilemann said Europe's chemical industry is at a crossroads with severe structural challenges. Belgian unions said the plan affects about 25% of the workforce, and no final decision will be taken until consultation concludes.
