Covestro operates new production line in Thailand
First step in global capacity expansion for films
Covestro has launched a new production line for polycarbonate films in the Map Ta Phut Industrial Estate in Thailand. With the new capacity, the company aims to meet the rapidly growing demand in the Asia-Pacific region and to strengthen its own position as a market leader in this field. The films are mainly used in the automotive, telecommunications, medical technology and ID document sectors. The project is the first step in a global expansion of Covestro's plastic film production. The total investment of more than 100 million euros also includes an expansion of the associated infrastructure and logistics to shorten delivery times. More than 100 new jobs will be created worldwide.
“With this additional production line using state-of-the-art technology, we are investing in future growth in the Asia-Pacific markets, which are very important to us," says Sucheta Govil, Chief Commercial Officer (CCO) at Covestro. "At the same time, we are responding to the rapidly growing demand for specialty films in this region and are supporting the expansion of promising technologies and industries.”
More intensive customer service
Dr. Thorsten Dreier, Global Head of Specialty Films, sees advantages in customer service: "The new production line is important to us because it enables faster market launches and at the same time expands our market access in Asia-Pacific. Our most important goal is to intensify our cooperation with customers in the region and to increase our efficiency. We intend to drive growth in the plastic film business with innovations and a stronger customer focus.”
Covestro has been operating a production facility for specialty films in Thailand since 2007. The range comprises polycarbonate films from the Makrofol® range and Bayfol® products made from polycarbonate blends. The new line is equipped with the latest technology and operates very efficiently.
As a further measure in the investment program to expand film production, Covestro has already converted a coextrusion film plant in Guangzhou, China, for the future. At the South Deerfield site in the USA, the efficiency and quality of film production was also improved. The next milestone will be the expansion of films production in Dormagen, where the company is currently building up new coextrusion capacities. This project is scheduled for completion by the end of 2020.
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.