Shortly after doubling its polycarbonate production capacity at its Shanghai site to 400,000 tons per year, Covestro will again significantly expand its capacity to 600,000 metric tons per year. With this step, which is achieved through debottlenecking of its production lines, the company reacts to the strong customer demand for polycarbonates in the Asia-Pacific region. The expanded capacity shall be available starting 2019.
"The expansion is essential to satisfy the growing demand", said Chief Technology Officer Dr. Klaus Schäfer. "The successful completion of this project will strengthen our global production network and demonstrates our continuous commitment to the Chinese market."
Michelle Jou, Global Head of Covestro´s Polycarbonates segment, said, "There is a rapidly growing demand for polycarbonate resins and blends, in particular in China. Segments like electronics, healthcare and automotive are our key customer industries in that region. Further expanding our capacity for this high-tech plastic enables us to even better react to the changing needs of our customers and to guarantee sustainable supply."
Global number one in polycarbonate resins Especially lightweight, highly transparent, break-proof and easy to shape, polycarbonate is used in many areas of modern life - from electronic and IT appliances to automotive parts to medical devices and LED lighting. With the capacity expansion of the largest polycarbonate production site in the world, Covestro strengthens its global number one position in polycarbonate resins and intends to supply the volumes it needs to continuously outgrow industry. "We have grown our capacity share continuously in recent years and are committed to continue this path. This investment is one of the steps we do to secure the necessary supply", adds Michelle Jou.
At the same time, Covestro underscores its leading position in highly efficient and environmentally compatible technology by recycling process saltwater at the production site. This is used again to produce chlorine and sodium hydroxide, two chemicals that in turn are needed as raw materials for polycarbonates. "By using our innovative recycling process technology we safeguard our high level of cost efficiency", said Klaus Schäfer.
With 2016 sales of EUR 11.9 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employs approximately 15,600 people (calculated as full-time equivalents) at the end of 2016.
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This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.