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MarketScreener Homepage  >  Equities  >  Xetra  >  Covestro AG    1COV   DE0006062144

COVESTRO AG

(1COV)
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Covestro : expands its production capacity for Vulkollan® raw materials in Thailand

11/12/2020 | 06:45am EST

Covestro has started construction of a new production plant for Vulkollan® raw materials in the Map Ta Phut industrial zone in Thailand. With the new plant, the company aims to satisfy the growing demand for high-performance elastomers and to serve the ever wider range of applications of the product. The investment is in the high mid double-digit million euro range. Production at the new plant is scheduled to start at the end of 2022. It will employ a staff of more than 25 people.

'With this strategic investment, Covestro wants to further improve its infrastructure and customer proximity and strengthen its presence in the Asia-Pacific region,' says Dr. Klaus Schäfer, Chief Technology Officer (CTO) of Covestro. 'After expanding our capacities for polycarbonate films, we are now broadening the production spectrum at our Map Ta Phut site with a new investment project.'

'With this additional production line, we are not only supporting our customers´ demand', explains Michael Friede, Head of the Coatings, Adhesives, Specialties segment, 'we are also investing in the future global growth of applications and industries with high-end requirements.'

High-performance elastomer

'Due to its extremely high mechanical strength and dynamic load capacity, the elastomer is the engineering material of choice for demanding applications,' explains Dr. Thomas Braig, Head of Elastomers. 'In addition, its long-term functional reliability optimizes the total cost of ownership compared to other elastomers. This makes Vulkollan® the perfect material not only in the material handling industry, but also for a growing number of engineering applications.'

The product is one of the most powerful elastomers on the market. It is mainly used where highest mechanical strength and abrasion resistance is required. Examples are wheels for forklift trucks as well as couplings and seals for the engineering industry.

Disclaimer

Covestro AG published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 11:44:06 UTC


© Publicnow 2020
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Financials
Sales 2020 10 709 M 13 018 M 13 018 M
Net income 2020 396 M 482 M 482 M
Net Debt 2020 577 M 702 M 702 M
P/E ratio 2020 26,0x
Yield 2020 2,34%
Capitalization 10 947 M 13 314 M 13 307 M
EV / Sales 2020 1,08x
EV / Sales 2021 1,01x
Nbr of Employees 16 626
Free-Float 92,8%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 58,36 €
Last Close Price 56,70 €
Spread / Highest target 25,2%
Spread / Average Target 2,93%
Spread / Lowest Target -25,9%
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Managers and Directors
NameTitle
Markus Steilemann Chief Executive Officer
Richard Pott Chairman-Supervisory Board
Thomas Toepfer Chief Financial Officer & Labor Director
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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