New center to focus on ‘Innovation inspired by Sustainability’ and contribute towards the ‘Make in India’ initiative.
Covestro, the global manufacturer of high-performance polymer materials, today inaugurated the Strategic Market Development Center in Mumbai at the hands of Michael Friede – Head of Coatings, Adhesives & Specialities Business Covestro AG and in the presence of Ajay Durrani, Managing Director, Covestro (India), Peter Kruppa, Global Head of Application & Technology Development, Covestro AG and Linda Liu, Product Technical services - Covestro APAC. The chief guest for the inauguration ceremony was Prof. Dr. GD Yadav, Vice Chancellor, Institute of Chemical Technology. The center located in the new office of Covestro India’s Mumbai premises will enable driving more innovative solutions for the Indian market. The launch of the new center further bolsters the company’s commitment towards the Indian market and helps strengthen its global position as the market leader in the supply of innovative solutions.
Speaking on the inauguration of the center, Mr. Ajay Durrani, MD, Covestro (India) highlighted how innovative and ideal offerings to the Indian market is the need of the hour, “We have always been at the forefront in supporting nation building initiatives such as the Make In India and the Smart City Mission introduced by the Government. The smart city mission demands new age solutions which will help build energy efficient buildings. The new center will provide enhanced capabilities to cater to this need with localised solutions using our raw material in the technology. The true test of capability comes when one is able to replace existing technology with cutting edge superior technology that is seamless. Having a center of this scale will enhance our capabilities to spawn innovative solutions.”
“This is a one of its kind center in the country and represents our confidence in India and its growth story. Rapid technological advancements demand courageous innovations to address the needs of global challenges. Sustainability is our biggest innovation driver for which we rely on cutting edge research across the globe. The center will help develop solutions for infrastructure, mobility, energy and technology which will require sustainable products in the near future. Through the regional presence of our innovation hubs we understand the local needs and can develop tailor-made solutions.” said Michael Friede – Head of Coatings, Adhesives and Specialities business Covestro AG at the inaugural ceremony.
The center will help speed up local innovation that will enable in catering to the demands of the Indian market. It will also help create customized PU solutions which can be used in industries such as construction, automotive, furniture, footwear, etc.
The center will work closely with Covestro’s global centers offering services to meet international standards and state-of-the-art center that is equipped with advanced capabilities to match global standards.
With 2017 sales of EUR 14.1 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, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,200 people (calculated as full-time equivalents) at the end of 2017.
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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.