Polymers supplier Covestro (Leverkusen, Germany) announced that it will significantly expand its global film production to meet growing demand. The company plans to invest €100 million to expand capacity at facilities in South Deerfield, MA; Map Ta Phut, Thailand; Guangzhou, China; and Dormagen, Germany. More than 100 new jobs are expected to be created worldwide for the operation of the new plants, which supply semi-finished products for the automotive, medical technology and security card industries, among other sectors.
"We want to expand our global film production as quickly as possible to meet growing demand in these regions," said Michael Friede, Global Head of the Coatings, Adhesives and Specialties segment, in a prepared statement. "With modern and efficient production facilities, we want to offer our customers growth opportunities and strengthen them in their competitive environment."
The new production facility in Map Ta Phut is scheduled for completion by the end of 2019. It is based on modern co-extrusion technology, said Covestro.
At the Guangzhou site, the focus initially will be on converting the existing co-extrusion line with a mid-2019 target timeframe. Capacity will be expanded in a second phase. In South Deerfield, Covestro reports that measures to increase efficiency and quality already are being implemented.
Covestro is also building new co-extrusion lines in Dormagen, which are scheduled for completion by the fourth quarter of 2020. The company commissioned a new production line at that site for multilayer flat films, including infrastructure and logistics facilities, just about one year ago.
U.S. headquarters receives Sustainability Initiative of the Year award
In addition to thinking globally, Covestro also acts locally, notably in terms of sustainability. Its U.S. headquarters in Pittsburgh, PA, recently received the Sustainability Initiative of the Year award from the Business Intelligence Group (Burlington, NJ). The award was presented in recognition of Covestro’s THINC30 summit.
THINC30 stands for transforming, harnessing, innovating, navigating and collaborating for a purpose-driven, sustainable future by 2030, explained Covestro in a press release. The annual event is designed to introduce the 17 global United Nations' Sustainable Development Goals to the local Pittsburgh community. By sharing the U.N. goals with local business, government, academic and nonprofit leaders, Covestro hopes to inspire action that will advance the region’s growth and prosperity in a sustainable way.
“THINC30 has enabled us to share Covestro’s strategy for embedding the goals into our business strategy and demonstrate the impact this has had on our triple bottom line—people, planet and prosperity,” said Rebecca Lucore, Head of Sustainability and Corporate Social Responsibility. “Our hope is that other local companies and organizations use our model to integrate the goals into their own operations to ultimately drive our region’s growth and sustainability.”
Covestro will hold the second annual THINC30 summit in Pittsburgh on Oct. 17, 2018. Click here to register to attend the free event.