Covestro AG, the German high-tech polymer maker, will increase production capacity and set up new research facilities to compete with other existing rivals in the field.
It will rely on the fast-,growing industries of China for future growth, including telecommunications, manufacturing, automotive and transportation.
When China has entered a new phase of economic development, concentrating on quality rather than quantity, Covestro's goods and solutions fit in, said Michael Friede, global head of the company's div,ision of coatings, adhesives and specialties.
He emphasized that customers in China are always looking for a better life, regardless of where they come from and how old they are. This is the fundamental driving force for the strong domestic consumption of different industrial goods in the region.
Tech for Chinese Bullet Trains
In addition to supplying various coating raw materials to domestic automotive manufacturers such as Chongqing-based Chang'an Automobile Co Ltd, Covestro wants to provide China's high-speed trains with more water-based coating goods, as they can operate both under low and high temperature conditions, and provide better scratching and chip-based resistance.
With various partners, the Leverkusen-headquartered company has extended its transparent innovation. In October, at its Asia-Pacific Innovation Center in Shanghai, it unveiled the new concept of "Virtual Innovation Hub."
The move came as China's multi-industry ecosystems developed through open concepts of innovation that push both the limits of traditional industries as well as manufacturing and consumption upgrades.
In many ways that tackle future trends, as China is setting the "pace for innovations and solutions", Friede said, adding that new trends are emerging for electronics.
Friede explained that 5 G will be a crucial element of technology in both China and the world, providing more growth points for global firms like Covestro to engage with numerous innovation partners across the region.
They're Into Dresses, Too
Covestro - who bought back stocks equivalent to about 4.4 percent of its market cap this year - rolled out the world's first Cheongsam soft-touch dress made from 3D printing. This was the latest attempt in marketing and mass production to push the boundaries of new innovations on 3D printing.
In multiple aspects such as design and texture, as well as material properties, ,shape and size, the Cheongsam dress can be personalized to suit customers' needs.
Friede pointed out that 3D printing technology offers creative design flexibility and enables a smooth appearance of complex structures.
Manufacturers, for example, may make fully functioning shoes in a size that fits every single customer perfectly. According to Friede, it also gives individuals, designers and artists the ability to customize their shoes within the boundaries of their imagination.
