Covestro expands its production capacity for Vulkollan® raw materials in Thailand
Ground-breaking for new production plant
Covestro has started construction of a new production plant for Vulkollan® raw materials in the Map Ta Phut industrial zone in Thailand. With the new plant, the company aims to satisfy the growing demand for high-performance elastomers and to serve the ever wider range of applications of the product. The investment is in the high mid double-digit million euro range. Production at the new plant is scheduled to start at the end of 2022. It will employ a staff of more than 25 people.
"With this strategic investment, Covestro wants to further improve its infrastructure and customer proximity and strengthen its presence in the Asia-Pacific region," says Dr. Klaus Schäfer, Chief Technology Officer (CTO) of Covestro. "After expanding our capacities for polycarbonate films, we are now broadening the production spectrum at our Map Ta Phut site with a new investment project."
"With this additional production line, we are not only supporting our customers´ demand", explains Michael Friede, Head of the Coatings, Adhesives, Specialties segment, "we are also investing in the future global growth of applications and industries with high-end requirements."
"Due to its extremely high mechanical strength and dynamic load capacity, the elastomer is the engineering material of choice for demanding applications," explains Dr. Thomas Braig, Head of Elastomers. "In addition, its long-term functional reliability optimizes the total cost of ownership compared to other elastomers. This makes Vulkollan® the perfect material not only in the material handling industry, but also for a growing number of engineering applications."
The product is one of the most powerful elastomers on the market. It is mainly used where highest mechanical strength and abrasion resistance is required. Examples are wheels for forklift trucks as well as couplings and seals for the engineering industry.
With 2019 sales of EUR 12.4 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 17,200 people (calculated as full-time equivalents) at the end of 2019.
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.