Evonik to double production global capacity for Vestamid E

(Alliance News) - Evonik Industries AG on Friday said it is doubling the global capacity for its ...

Alliance News 14 April, 2023 | 10:21AM
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(Alliance News) - Evonik Industries AG on Friday said it is doubling the global capacity for its production of Vestamid E, with a twofold approach.

The Essen, Germany-based chemicals company said it is undertaking a major expansion of its Shanghai production plant, as well as an optimisation project at its production facility in Marl, Germany.

Vestamid E is a flexible foam product used predominantly in athletic footwear, as well as injection moulding, noiseless gears and high performance extrusion components.

Construction is set to commence in Shanghai in the second half of 2023, with the expansion intended to "increase the company's ability for the polymerization of polyether block amide", which the firm said is a key step in its production of Vestamid E.

Ralf Dussel, head of the high performance polymers business line said: "As the worldwide footwear production continues to grow, this latest investment in Shanghai will significantly increase Evonik’s PEBA production capacity, expand our regional presence, and put us in an optimal position to address the global market that is centred primarily on local manufacturing in Asia."

Alongside the expansion of its Shanghai facility, the firm said multiple projects are ongoing at its Germany facility to "eliminate bottlenecks" and optimise production.

Evonik shares rose 1.0% to EUR19.30 each in Frankfurt on Friday afternoon.

By Harvey Dorset, Alliance News reporter

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Evonik Industries AG 20.14 EUR -0.49

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