KfW IPEX-Bank financing energy-efficient production plant from Bayer in Dormagen
Frankfurt am Main (ots) –
– Support of Bayer AG for a strategically important investment in
Germany
– Newest process technology ensures energy savings and reduces use
of solvents
– Project qualifies for KfW Environmental and Energy Efficiency
Programme
Bayer MaterialScience (BMS) is investing in a new plant for
producing toluene diisocyanate (TDI) at its production location in
Dormagen using a loan from KfW IPEX-Bank in the amount of the planned
investment. TDI is an important raw material for producing special
flexible foam which is used, for example, in the furniture and
automobile industries for padding and as insulation. „Our financing
helps BMS to viably expand an important production area and supports
the German export economy. In addition, with the new facility Bayer
is making a significant contribution to realising the climate
protection goals of the German Federal Government,“ commented Markus
Scheer, member of the Management Board of KfW IPEX-Bank, upon closing
the deal. The TDI produced in Dormagen is primarily destined for the
German and European market. Compared to a conventional TDI plant of
the same size, the process developed by Bayer MaterialScience reduces
energy consumption by up to 60 per cent. These energy savings result
in a reduction of the equivalent of 50,000 tonnes of CO2 emission per
year. In addition, the use of solvents is reduced by up to 80 per
cent. The new facility, which will go on line in 2014, will replace
the existing TDI production in Dormagen und Brunsbüttel.
The energy-efficient production process sets new industry
standards and meets the strict requirements of the KfW Environment
and Energy Efficiency Programme that is included in the financing. In
the framework of this KfW programme, enterprises receive an interest
rate reduction by the Federal Government for projects particularly
suitable for promotion. All requirements are fulfilled when the
investments in Germany contribute to substantially improving the
environmental situation. The use of this measure is decided directly
by the Federal Ministry for the Environment and Federal Ministry of
Economics for this credit amount.
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium- and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has 531
employees (as of 31 December 2011) and is represented in the key
economic and financial centres throughout the globe.
Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: thomas.krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de