Covestro - Specialty Films

Covestro Specialty Films reaches new milestone with capacity expansion in Thailand, committed to local market despite current world challenges

Covestro, a world-leading supplier of high-tech polymer materials, pulled off a big success on reaching a new milestone for Specialty Films business in Thailand. This is part of a larger global expansion plan worth 100 million euros which the company has planned to continue its growth path despite the current challenging environment. The additional production will be built up in the Map Ta Phut Industrial Estate in Rayong province, Thailand.

Fulfilling its commitment to be a regional market leader, the expansion and technical upgrade in Thailand site is expected to create customer benefit from its higher capacity and higher quality materials, while being able to offer better service to meet a fast-increasing demand for Specialty Films in the region and worldwide. Covestro’s innovative specialty films will help shape the future and serve the new trend in many industries including the automotive, telecomunications, security card and medical devices industry.

 

Mr. Chow Pin Tan, Head of Specialty Films APAC revealed that, “We are proud of this new production facility in Thailand that has been successfully and perfectly achieved on schedule. Thailand is one of key strategic locations that was included in our global investment plan. Despite a challenging environment currently, a build-up of additional films production capacities in the Map Ta Phut Industrial Estate is a strong demonstration of our commitment to this region for the long term. The new facility will enable Covestro to better serve the needs of our customers on our hi-tech material solutions, and satisfy the fast increasing demand for Specialty Films in the Asia Pacific region.”

 

In Thailand, Covestro has been running the production of specialty films at the MapTa Phut site since 2007. Most importantly, with its high quality of state-of-the art technologies, Covestro’s Specialty Films production plant is the only facility in Thailand that is fully competent in producing a range of polycarbonate-blended films from our own raw materials. And the new expansion has now been completed on schedule and started its production in the first quarter of 2020.

 

“We are very excited of this expansion and upgrade of our Map Ta Phut site. As we know, seamless multifunctional displays will be a core feature in cars of the future, integrating touchscreen, controls and ambient lighting in complex 3D forms. Polycarbonate films produced from this production site will be able to provide the required optical quality and design freedom as engineers and designers seek to further integrate aesthetic and functionality for the future requirement of the automotive industry.” Mr. Tan added.

 

According to the company’s investment program, Covestro already completed its expansion in Guangzhou, China. The company also implemented measures to increase efficiency and quality in its films plant in South Deerfield, USA. And the next milestone in the global investment program will currently be a capacity expansion in Dormagen, Germany, where the company is now building new coextrusion capacities. This project will complement the investment program and will be finished in the fourth quarter of 2020.

About Covestro:

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, electronics and household appliances industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has about 30 production sites around the globe and as of the end of 2019 employed approximately 17,200 people (full-time equivalents).

 

Forward-looking statements

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.