- Global demand for TPU specialty films on the rise
- Investment in the low double-digit million euro range
- Completion planned for end of 2023
(PRESS RELEASE) LEVERKUSEN, 22-Apr-2022 — /EuropaWire/ — Covestro AG (ETR: 1COV), a German producer of polyurethane and polycarbonate based raw materials and one of world’s leading polymer companies, has announced an expansion of its thermoplastic polyurethane (TPU) films production capacity at the Bomlitz site in Germany along with the associated infrastructure and logistics. According to the company, the amount invested in the extension is in the low double-digit million euro range. This site of Epurex Films, which is a wholly owned subsidiary of Covestro, is the company’s place for application development and production for the semi-finished products, among other things.
The new capacity is intended to meet the growing global demand for multilayer TPU Films. They are used in automotive interiors and construction, among other applications. Breathable, water-impermeable specialty films have also proven their worth in wound care and outdoor clothing. The new facilities are scheduled for completion as early as the end of 2023.
“With this capacity expansion, we are strengthening our Bomlitz site and our position as a leading supplier of technical specialty films,” said Dr. Klaus Schäfer, Chief Technology Officer of Covestro, at the groundbreaking ceremony. “At the same time, we are investing in promising technologies and applications and creating new jobs.”
For Aleta Richards, global head of the Specialty Films segment, the expansion offers opportunities to respond even better to individual customer needs and offer more sustainable products. “For some time now, we have also been developing customer-specific solutions with films made from alternative raw materials, as we are also seeing increasing demand in this area. The development and production of partially bio-based products is therefore to become a new focus at the Bomlitz site.”
Covestro is fully geared toward the circular economy and aims to become climate-neutral by 2035. To this end, the Bomlitz site plans to switch its energy supply completely to green electricity starting this year.
Epurex Films is one of three Covestro competence centers for specialty films in Germany. The other two centers in Leverkusen and Dormagen are focused on research, production and application of polycarbonate films.
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).
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.
Global Trade Media Relations, Covestro
+49 214 6009 2536
+49 175 3025363
Global Media Relations, Covestro
+49 214 6009 3192
+49 173 7944436
SOURCE: Covestro AG