- Meeting the growing demand for high performance elastomers
According to the company’s website press release on November 24, 2022, Covestro recently started up the production of Naphthylen-Diisocyanate (NDI) for the Vulkollan® raw material at a newly built plant in its Map Ta Phut site in Thailand. The groundbreaking of the plant happened almost exactly two years ago, in late 2020. The investment was in the high mid double-digit million Euro range and is part of several investments of the company into cast polyurethane raw materials, for example at its Spanish site near Barcelona or at its site in Caojing near Shanghai in China.
“We believe in the growth of the cast elastomers market and want to meet the increasing demand. With this new production plant, we achieve a significant improvement of our global infrastructure and strengthen our presence for high-performance elastomers in the Asia-Pacific region,” says Sucheta Govil, Chief Commercial Officer at Covestro. “This investment also allows us to better serve our customers, improve our customer service and it supports the growth of applications and industries with high-end performance requirements.”
“The start up of our Map Ta Phut plant is the latest step of several investments in our Elastomers business to support the Vulkollan® brand,” explains Thomas Braig, Head of the Business Entity Elastomers. “We firmly believe in the strong potential of this historic and well-known brand and are prepared, with this investment, for its future growth and the development of its customers.”
“Our Map Ta Phut site in Thailand has been well prepared to grow and is now proud and ready to contribute to the Elastomers business while supporting Covestro's overall strategy to strengthen its Solutions & Specialties segment," added Dr. Timo Slawinski, Site Manager Map Ta Phut.
The new plant in Thailand now employs more than 25 people. The elastomers produced from the raw material are suitable for a diverse range of applications: from forklift wheels, roller coaster wheels to couplings and seals for the engineering industry, among many others. The product is one of the most powerful elastomers on the market. Its superior durability, stability and thereby lowered maintenance requirements are among the key features of the material and make it a material of choice for ever more customers and applications.
About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, cosmetics and health, as well as in the chemical industry itself.
The company is committed to becoming fully circular and is striving to become climate neutral by 2035 (scope 1 and 2). Covestro generated sales of EUR 15.9 billion in fiscal 2021. At the end of 2021, the company had 50 production sites worldwide and employed approximately 17,900 people (calculated as 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.
