Covestro intends to significantly expand its global film production to meet the growing demand in all regions. In particular, capacity expansions are planned at Map Ta Phut, Thailand, Guangzhou, China, South Deerfield, USA, and Dormagen, Germany. The total investment of more than 100 million euros also includes the expansion of the associated infrastructure and logistics. According to current planning, over 100 new jobs will be created worldwide for the operation of the new plants. The high-quality semi-finished products are used in the automotive, medical technology and security card industries, amongst others.
"With this capacity expansion, we are investing in promising technologies and applications," says Dr. Markus Steilemann, CEO of Covestro. "The innovative high-tech materials offer solutions for future challenges and deliver their contribution to making the world a brighter place."
"We want to expand our global film production as quickly as possible to meet the growing demand in the regions," explains Michael Friede, global head of the Coatings, Adhesives and Specialties segment. "With modern and efficient production facilities, we want to offer our customers growth opportunities and strengthen them in their competitive environment."
Global capacity expansion
One of the new production facilities is being built in Map Ta Phut in Thailand and is scheduled for completion by the end of 2019. It is based on modern coextrusion technology.
At the Guangzhou site in China, the focus will initially be on converting the existing coextrusion line. The first new capacities are to be available there as early as mid-2019. In a second phase, capacity is also to be expanded there. In South Deerfield, Massachusetts, measures to increase efficiency and quality are already being implemented.
Covestro is also building new coextrusion lines in Dormagen, which are scheduled for completion in the fourth quarter of 2020. Only a year ago, the company commissioned a new production line there for high-quality, multilayer flat films, including infrastructure and logistics facilities.
Broadly diversified portfolio
"With these expansions we create the conditions to meet customer requirements more flexibly and quickly. Our tailor-made products enable versatile applications in various industries," says Dr. Thorsten Dreier, global head of the Specialty Films business.
Covestro is a global supplier of special technical films, primarily made from polycarbonate and thermoplastic polyurethane (TPU). With production facilities in Europe, North America and Asia, the company supplies all the world's major markets with products of consistently high quality. By selectively adjusting the surface structure, using additives or coating, the films can be equipped with further innovative functions. The products are characterized by good scratch and UV resistance and can also be equipped with special light scattering capacity and barrier properties.
Customers also benefit from extensive technical support coordinated by the service centers in Shanghai (China), South Deerfield (USA), Dormagen and Bomlitz, Germany. In addition to research into new and innovative products, this also includes the simulation and optimization of customers' production processes.
With 2017 sales of EUR 14.1 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 has 30 production sites worldwide and employs approximately 16,200 people (calculated as full-time equivalents) at the end of 2017.
Find more information at www.covestro.com.
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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.