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    1COV   DE0006062144

COVESTRO AG

(1COV)
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Delayed Xetra  -  11:35:15 2023-01-27 am EST
42.31 EUR   +1.17%
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01/19Covestro : and Lanxess cooperate to produce more sustainable raw materials with reduced CO₂ footprint
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Covestro : launches production for Vulkollan« raw materials in Thailand

11/24/2022 | 04:04am EST

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.

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Covestro AG published this content on 24 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2022 09:03:06 UTC.


ę Publicnow 2022
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Sales 2022 18 089 M 19 636 M 19 636 M
Net income 2022 22,4 M 24,3 M 24,3 M
Net Debt 2022 2 389 M 2 594 M 2 594 M
P/E ratio 2022 65,5x
Yield 2022 1,53%
Capitalization 8 173 M 8 872 M 8 872 M
EV / Sales 2022 0,58x
EV / Sales 2023 0,64x
Nbr of Employees 18 064
Free-Float 97,4%
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Last Close Price 42,31 €
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Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schńfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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