МОSCOW (MRC) -- Covestro is expanding capacity for polycarbonate films at its Dormagen, Germany, site, the company announced on its site.
It is investing roughly EUR20 million (USD21.6 million) to construct a coextrusion plant for multilayer flat films, including the associated infrastructure and logistics. The plant is scheduled onstream in 2017. The products are used in security cards, automotive interiors, medical device, and displays. Fifteen new jobs will be created to operate the plant.
"With this investment we are significantly expanding our films business," said Daniel Meyer, head of the Coatings, Adhesives and Specialties Segment. "At the same time, we are expanding our range of tailored products, which offer added value along the entire value chain."
Nina Schmarander, global head of Specialty Films at Covestro, added: "With the new plant, we are orienting ourselves more than ever on market trends and the rising demand for high-quality flat films. For us it is a further developmental step for multilayer film structures, such as those used for counterfeit-proof identity cards."
Bayer MaterialScience has operated under the name of Covestro since September 1, 2015. The company had already relocated the headquarters of its global polycarbonate activities to Shanghai in 2011, as the primary markets for thermoplastics are located in Asia.
With 2014 sales of EUR 11.8 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, electrical and electronics, construction and sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employs approximately 15,700 people (calculated as full-time equivalents) at the end of September 2015.
MRC