Covestro breaks ground on new production line in Thailand
Covestro has started to build up a new manufacturing line for polycarbonate films at Map Ta Phut Industrial Estate, Thailand. With this new capacity, the company will serve the fast growing demand in Asia Pacific and strengthen its own position as a market leader. The project is the first step of a global capacity increase for Covestro´s film production. The total investment of more than EUR 100 million also includes an expansion of the associated infrastructure and logistics.
“Our existing films plant in Map Ta Phut has been a high-performing and valued facility,” said Dr. Thorsten Dreier, Global Head of Covestro´s Specialty Films Business, at the ground-breaking ceremony. “Our main objective with this expansion is to intensify our collaboration with customers in Asia Pacific, in particular, to improve efficiency and punctual delivery. With market-focused innovations and a stronger customer orientation we want to drive growth for Covestro.”
Thorsten Dreier added, “This is an excellent strategic fit, enabling fastest time-to-market, but also broadening our market access in Asia. Not least, we have highly-skilled employees at our existing plant, which will also ensure the success of the new project,” added Thorsten Dreier.
The existing films facility started operations in January 2007 and produces Makrofol® polycarbonate and Bayfol® polycarbonate blend films, which are used in industry sectors such as security and ID cards, automotive, medical, as well as electrical and electronics. It produces a selection of grades, including new optical grades, and the new facility is designed to extend the range of products in response to market demand.
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.
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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.