Bayer-Shell Isocyanates N.V. joint venture intends to cease operation
Bayer Antwerpen N.V. and Shell Petroleum N.V. (Shell) today announced their intention to cease operation of their Bayer-Shell Isocyanates N.V. (BSI) joint venture. BSI, established in 1969, produces toluene diisocyanate (TDI) and diphenylmethane diisocyanate (MDI) polyurethane raw materials. An operational review of the plant showed that a future operation of BSI would no longer be economically viable. The joint venture intends to stop production by June 30, 2003. BSI operates two facilities at a plant in Antwerp, Belgium: a TDI unit with a capacity of 30,000 tonnes per year and an MDI unit with a capacity of 36,000 tonnes per year. All MDI production is marketed by Bayer, all TDI production marketed by Shell.
Bayer intends to supply MDI to its customers in the future from its international production network. Shell will continue to meet its customers current and future needs for TDI through global procurement activities.
Some 270 people, all employees of Bayer Antwerpen, work for the BSI joint venture through a service agreement. Bayer Antwerpen N.V. has started a procedure of information and consultation within its works council.
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