Company News
March 25, 2021
Covestro Recycling Project
Closing the loop for polyurethane mattresses
Covestro: a pioneer in foam recycling and cycle design
- Innovative process for recovering both core raw materials
- New pilot plant for chemical recycling put into operation
- Trailblazer for industrial recycling
- Co-shaping the circular economy in cooperation with value chain
Covestro has developed an innovative process for the chemical recycling of polyurethane (PU) flexible foam from used mattresses. It builds on its participation in the PUReSmart project, which is coordinated by Recticel company.
On average, mattresses contain 15 to 20 kilograms of foam, which results in a large amount of waste at the end of their useful life. The foam is primarily made of two important raw materials. While other chemical recycling approaches mainly focus on processing one of them, the Covestro process now enables the recovery of both raw materials.
Covestro has also recently started operating a pilot plant for flexible foam recycling at its Leverkusen site to confirm the positive laboratory results achieved to date. The first phase is to focus on recycling one of the raw materials, before the recovery of the second component is also to be piloted from summer this year. Covestro´s goal here is to industrialize chemical recycling processes for used flexible foams and ultimately to remarket both recovered raw materials.
Closing material loops
“The development of this innovative recycling technology and the investment in the pilot plant are further milestones in realizing our vision of fully aligning Covestro to the circular economy,” says CEO Dr. Markus Steilemann. “In doing so, we want to replace fossil resources in production, steadily further reduce the carbon footprint of our materials and create new solutions for dealing with plastic waste. Chemical recycling is particularly promising for this, and must be developed further and used more intensively overall. Above all, it should finally be put on an equal legal basis with other recycling methods.”
In cooperation with the companies Recticel and Redwave – a division of Wolfgang Binder GmbH – and as part of the PUReSmart research project, Covestro has also developed an intelligent sorting solution for separating the different PU foams from post-consumer mattresses. The software uses algorithms to correctly identify the different foam types, which facilitates an effective recycling process. This development is another element of Covestro’s digitalization strategy, combined with the new opportunities it entails for the chemicals and plastics industry.
Co-creation of a circular ecosystem
“Based on our competencies and experiences, we also want to take part in shaping the emerging value creation cycle,” says Daniel Meyer, Global Head of the Polyurethanes segment at Covestro. “To accomplish this, we rely on international cooperation with partners and also develop innovative business models. The aim is to generate new sustainable business opportunities with our customers, other partners and for ourselves.”
The project is an important step forward in taking the development of the circular economy at Covestro to entirely new heights. The increased use of used materials further contributes to solving the societal challenge of sustainable disposal of such waste and to achieving the European Union´s goals for the circular economy and for climate and environmental protection.
https://www.covestro.com/press/closing-the-loop-for-polyurethane-mattresses-public/
March 24, 2021
Covestro Moving to Renewable Power Source
Covestro and ENGIE sign supply agreement for green power in Belgium
| 45% of Covestro Antwerp’s electricity demand covered by renewable energy Capacity of almost 40 megawatts from new onshore wind turbines |
Covestro will be covering almost half of its future electricity demand in Belgium from wind energy. The company concluded a Power Purchase Agreement (PPA) with ENGIE, the largest producer of renewable energy in the country. From April 1, 2021, the energy provider is going to supply around 45% of the electricity demand of Covestro in Antwerp from 15 wind turbines in four newly constructed onshore wind farms.The new agreement, known as a Corporate PPA, covers a capacity of 39 megawatts. This equals the energy supply for about 30,000 private households and reduces Covestro’s carbon footprint in Belgium by more than 38,500t of CO₂, which is equivalent to the emissions of almost 20,000 cars per year.More energy efficient productionProduction in the chemical industry is traditionally energy-intensive. Covestro sees this as an incentive to take responsibility and minimise both energy demand and CO2emissions from production plants and processes. With its various innovative process technologies and a licensed energy management system, Covestro has already significantly increased energy efficiency and reduced emissions from its production. The company has set itself the goal to halve its specific carbon dioxide emissions by 2025, compared to 2005. In addition and in line with its new vision, Covestro wants to obtain most of the remaining energy from wind power.”The new supply agreement is a milestone in the conversion of our production to the use of renewable energies,” says Georg Wagner, Managing Director at Covestro in Antwerp. “Wind energy, together with the use of sustainable raw materials and innovative recycling technologies, are important steps towards realising our vision of becoming fully circular and achieving the climate goals of the European Green Deal. We are pleased to have found a partner in ENGIE to take this next step, with which we support our customers and the corresponding value chains to produce more sustainably.”  Largest supplier of renewable energies in Belgium Vincent Verbeke, Head of ENGIE Global Energy Management in Belgium, says: “Being the largest renewable energy producer in Belgium, ENGIE acts to accelerate the transition towards a carbon-neutral world, by supporting its clients in reaching their sustainability goals. We are proud to help Covestro meet their environmental goals and to facilitate their consumption of onshore wind energy. This contract also illustrates ENGIE’s strong ambition to increase renewables’ development in Belgium.” Covestro already signed a major industrial customer supply contract with energy provider Ørsted to cover a significant proportion of the electricity requirements of the German sites for a long-time period as from 2025. The current contract with ENGIE will make Antwerp the first Covestro production site powered almost half by wind energy. At its Antwerp site, Covestro produces the high-performance plastic polycarbonate, which is used in car headlights, electrical and electronic components, LED lights, medical technology and many other applications. It also produces polyethers and the important industrial chemical aniline. The latter is eventually processed into methylene diphenyl diisocyanate (MDI), a raw material for rigid polyurethane foam, which has proven to be an efficient insulator for buildings and in the cold chain. |
March 24, 2021
Covestro Moving to Renewable Power Source
Covestro and ENGIE sign supply agreement for green power in Belgium
| 45% of Covestro Antwerp’s electricity demand covered by renewable energy Capacity of almost 40 megawatts from new onshore wind turbines |
| Covestro will be covering almost half of its future electricity demand in Belgium from wind energy. The company concluded a Power Purchase Agreement (PPA) with ENGIE, the largest producer of renewable energy in the country. From April 1, 2021, the energy provider is going to supply around 45% of the electricity demand of Covestro in Antwerp from 15 wind turbines in four newly constructed onshore wind farms.The new agreement, known as a Corporate PPA, covers a capacity of 39 megawatts. This equals the energy supply for about 30,000 private households and reduces Covestro’s carbon footprint in Belgium by more than 38,500t of CO₂, which is equivalent to the emissions of almost 20,000 cars per year.More energy efficient productionProduction in the chemical industry is traditionally energy-intensive. Covestro sees this as an incentive to take responsibility and minimise both energy demand and CO2emissions from production plants and processes. With its various innovative process technologies and a licensed energy management system, Covestro has already significantly increased energy efficiency and reduced emissions from its production. The company has set itself the goal to halve its specific carbon dioxide emissions by 2025, compared to 2005. In addition and in line with its new vision, Covestro wants to obtain most of the remaining energy from wind power.”The new supply agreement is a milestone in the conversion of our production to the use of renewable energies,” says Georg Wagner, Managing Director at Covestro in Antwerp. “Wind energy, together with the use of sustainable raw materials and innovative recycling technologies, are important steps towards realising our vision of becoming fully circular and achieving the climate goals of the European Green Deal. We are pleased to have found a partner in ENGIE to take this next step, with which we support our customers and the corresponding value chains to produce more sustainably.” Largest supplier of renewable energies in Belgium Vincent Verbeke, Head of ENGIE Global Energy Management in Belgium, says: “Being the largest renewable energy producer in Belgium, ENGIE acts to accelerate the transition towards a carbon-neutral world, by supporting its clients in reaching their sustainability goals. We are proud to help Covestro meet their environmental goals and to facilitate their consumption of onshore wind energy. This contract also illustrates ENGIE’s strong ambition to increase renewables’ development in Belgium.” Covestro already signed a major industrial customer supply contract with energy provider Ørsted to cover a significant proportion of the electricity requirements of the German sites for a long-time period as from 2025. The current contract with ENGIE will make Antwerp the first Covestro production site powered almost half by wind energy. At its Antwerp site, Covestro produces the high-performance plastic polycarbonate, which is used in car headlights, electrical and electronic components, LED lights, medical technology and many other applications. It also produces polyethers and the important industrial chemical aniline. The latter is eventually processed into methylene diphenyl diisocyanate (MDI), a raw material for rigid polyurethane foam, which has proven to be an efficient insulator for buildings and in the cold chain. |
March 24, 2021
Herman Miller Update
Soft North American contract furniture market drags Herman Miller sales lower
BY Jayson Bussa Thursday, March 18, 2021 01:37pm
ZEELAND — Office furniture maker Herman Miller Inc. continues to feel the sting as office workers stay home because of the COVID-19 pandemic.
In reporting its 2021 fiscal year results for its third quarter that ended Feb. 27, the company said it generated $590.5 million in sales for the three-month period, down 11.3 percent from the same time last year.
Herman Miller (Nasdaq: MLHR) reported $566.1 million in new orders, a 13.1-percent decrease from a year ago. The company attributed the falloff to demand pressures in the North American contract furniture market, where sales were off 35 percent and orders dipped 38 percent.
However, the company pointed to growing vaccination efforts, a drop in hospitalization rates and the fact that many of its clients are preparing to return to the office as reasons for optimism in the segment.
Herman Miller’s international contract segment held steady for the most part, with net sales up 1 percent and order volumes down 5 percent.
“Our global footprint also provides reasons for optimism,” the company said in a statement. “In regions where the impact of the pandemic has already lessened, our customers are resuming their workplace investments, giving us confidence that we will see similar rebounds in other regions as the pandemic retreats.”
The company reported quarterly earnings of $43.3 million, or 70 cents per diluted share, which compared to earnings of $37.3 million, or 64 cents per diluted share, a year ago.
Herman Miller also reined in operating expenses, which were down $13.9 million from last year, excluding restructuring expenses.
As a result of cost reductions and a planned price increase, the company also said it reinstated employer retirement contributions, which it had suspended for the first three quarters of its 2021 fiscal year.
As has been the case with other contract furniture manufacturers, Herman Miller said its retail segment has been strong. Retail sales shot up by 63 percent compared to last year, while order growth accelerated 81 percent. The company reported that these increases were spread fairly evenly across Design Within Reach and Hay, both brands owned by Herman Miller, and other Herman Miller retail brands.
Continued demand for home office furniture was the driver in that growth, with order growth in the category exceeding 326 percent, according to Herman Miller’s report.
Through the first nine months of its 2021 fiscal year, Herman Miller generated $1.84 billion in sales, down 8.3 percent from the previous year. Net earnings through three quarters were up 3.4 percent at $169.5 million.
In its outlook, Herman Miller said it was “encouraged by positive signs in each of our businesses,” but cited ongoing uncertainty about global demand and the pace of recovery.
“From a demand perspective, our contract sales funnel is pointing to increased demand in the back half of calendar 2021. From a cost perspective, like other industries, we are experiencing commodity pressures, especially associated with steel prices,” the company said in a statement. “We are ready to capitalize on the increased demand expected as the global contract market begins to recover. We believe that recovery, along with our expectation for sustained momentum in our Retail business and our global, multi-channel distribution model, puts us in a strong position to drive growth in our business as we reach the other side of the global pandemic.”
March 24, 2021
Herman Miller Update
Soft North American contract furniture market drags Herman Miller sales lower
BY Jayson Bussa Thursday, March 18, 2021 01:37pm
ZEELAND — Office furniture maker Herman Miller Inc. continues to feel the sting as office workers stay home because of the COVID-19 pandemic.
In reporting its 2021 fiscal year results for its third quarter that ended Feb. 27, the company said it generated $590.5 million in sales for the three-month period, down 11.3 percent from the same time last year.
Herman Miller (Nasdaq: MLHR) reported $566.1 million in new orders, a 13.1-percent decrease from a year ago. The company attributed the falloff to demand pressures in the North American contract furniture market, where sales were off 35 percent and orders dipped 38 percent.
However, the company pointed to growing vaccination efforts, a drop in hospitalization rates and the fact that many of its clients are preparing to return to the office as reasons for optimism in the segment.
Herman Miller’s international contract segment held steady for the most part, with net sales up 1 percent and order volumes down 5 percent.
“Our global footprint also provides reasons for optimism,” the company said in a statement. “In regions where the impact of the pandemic has already lessened, our customers are resuming their workplace investments, giving us confidence that we will see similar rebounds in other regions as the pandemic retreats.”
The company reported quarterly earnings of $43.3 million, or 70 cents per diluted share, which compared to earnings of $37.3 million, or 64 cents per diluted share, a year ago.
Herman Miller also reined in operating expenses, which were down $13.9 million from last year, excluding restructuring expenses.
As a result of cost reductions and a planned price increase, the company also said it reinstated employer retirement contributions, which it had suspended for the first three quarters of its 2021 fiscal year.
As has been the case with other contract furniture manufacturers, Herman Miller said its retail segment has been strong. Retail sales shot up by 63 percent compared to last year, while order growth accelerated 81 percent. The company reported that these increases were spread fairly evenly across Design Within Reach and Hay, both brands owned by Herman Miller, and other Herman Miller retail brands.
Continued demand for home office furniture was the driver in that growth, with order growth in the category exceeding 326 percent, according to Herman Miller’s report.
Through the first nine months of its 2021 fiscal year, Herman Miller generated $1.84 billion in sales, down 8.3 percent from the previous year. Net earnings through three quarters were up 3.4 percent at $169.5 million.
In its outlook, Herman Miller said it was “encouraged by positive signs in each of our businesses,” but cited ongoing uncertainty about global demand and the pace of recovery.
“From a demand perspective, our contract sales funnel is pointing to increased demand in the back half of calendar 2021. From a cost perspective, like other industries, we are experiencing commodity pressures, especially associated with steel prices,” the company said in a statement. “We are ready to capitalize on the increased demand expected as the global contract market begins to recover. We believe that recovery, along with our expectation for sustained momentum in our Retail business and our global, multi-channel distribution model, puts us in a strong position to drive growth in our business as we reach the other side of the global pandemic.”
Everchem Updates Archive 
Sign Up for Email Updates