Ribbon-cutting marks important milestone as company reaffirms its commitment to burgeoning TPU market
Pittsburgh, June 12, 2018 — Today, Covestro LLC hosted a ribbon-cutting ceremony at its New Martinsville, West Virginia, production facility, commemorating the successful startup of its thermoplastic polyurethane (TPU) capacity expansion. Part of a global investment strategy, the additional capacity in North America reaffirms the company’s commitment to supporting growth and innovation as global demand for TPU continues to rise.
This latest investment will increase Covestro’s annual production capacity of TPU in North America by 25 percent through debottlenecking. The capacity increase at New Martinsville follows the recent announcement of a TPU capacity expansion at the Covestro facility in Taiwan.
“Covestro recognizes the high growth potential of this market, which is why we’ve taken steps globally to secure our position as a leading TPU supplier,” said Brian Long, head of TPU Commercial Operations for Covestro in North America. “Today is an important milestone on that journey. By extending our production capabilities in North America, we’re able to meet growing customer demand while also exploring new market opportunities for our TPU business.”
The capacity expansion supports the company’s Texin® product line, a family of versatile polymers used in a wide range of applications, such as automotive instrument panels, medical devices and footwear. The Covestro New Martinsville facility was the first in North America to produce Texin®, starting nearly 50 years ago.
“Today’s occasion is a fitting tribute to a long legacy of world-class TPU production here in New Martinsville,” said Craig Graybill, vice president and general plant manager of Covestro’s New Martinsville Industrial Park. “We’re proud to build on that legacy through enhanced production offerings that will allow us to better serve our customers and sustain our strong manufacturing presence in the region.”
About Covestro LLC:
Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2017 sales of EUR 14.1 billion. 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, construction, wood processing and furniture, electrical and electronics and medical industries. Other sectors include sports and leisure, cosmetics and the chemical industry itself. Covestro has 30 production sites worldwide and employed approximately 16,200 people at the end of 2017.
Find more information at www.covestro.us.
Alice Sox, Phone: +1 412 413 5430
Texin® is a registered trademark of the Covestro Group.
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This press 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 on the Covestro website at www.covestro.com. Covestro assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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