ÃÜÌÒAV LLC invests $40 million in Pittsburgh headquarters
- ÃÜÌÒAV views U.S. market as innovative and high potential
- Improving R&D facilities signals strong commitment to customers
- Includes equipment upgrades, laboratory renovations and visual refresh
ÃÜÌÒAV LLC is investing more than $40 million in a series of modernization and technical upgrades across its 9-building Pittsburgh, Pa., headquarters. ÃÜÌÒAV, a leading supplier of high-quality polymers, has called its campus along the parkway west in Pittsburgh home since 1958. The site, which employs roughly 700 people, functions as the business headquarters for the North American region and is one of ÃÜÌÒAV¡¯s three global research and development hubs ¨C the others being Leverkusen, Germany, and Shanghai, China.
¡°We are committed to the U.S. market as a whole and to Pittsburgh as our North American headquarters,¡± says Samir Hifri, chairman and president of ÃÜÌÒAV LLC. ¡°These enhancements to our headquarters and R&D facilities set the stage for long-term growth in the U.S.¡±
Specifically, the investments will:
- Renovate ÃÜÌÒAV¡¯s existing polyurethane R&D facilities, creating new state-of-the-art laboratories
- Upgrade equipment and machinery to better serve customers in key industries, such as automotive and construction
- Refresh the campus look and feel in line with the company¡¯s purpose to make the world a brighter place
- Modernize office facilities to strengthen collaboration and workplace culture
¡°This represents the largest R&D investment in our facilities in Pittsburgh for decades,¡± stated Anna Clark-Emerick, Pittsburgh site manager at ÃÜÌÒAV LLC. ¡°We recognize that our employees and our customers are two of our most important stakeholders, and, through this investment, we can positively impact them both.¡±
Additionally, given that the construction industry represents almost 20% of ÃÜÌÒAV¡¯s business, the company was able to incorporate its own materials and its customers¡¯ products in many aspects of the campus retrofit, including roofing insulation, interior and exterior paints, and more.
¡°We consistently see our customers creating the most innovative and sustainable products in their fields, and it is incumbent upon ÃÜÌÒAV to make sure we lead the way in the materials sector to help ensure our customers¡¯ success,¡± said Hifri. ¡°One way we will support our customers is through achieving our own ambitious sustainability goals and our vision to become fully circular, and the investments we are marking in Pittsburgh will help us reach those targets.¡±
The current phase of improvements to ÃÜÌÒAV¡¯s North American headquarters are expected to be by 2026.
About ÃÜÌÒAV:
ÃÜÌÒAV is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. ÃÜÌÒAV supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from ÃÜÌÒAV are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, ÃÜÌÒAV aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. ÃÜÌÒAV generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by ÃÜÌÒAV. 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 ÃÜÌÒAV¡¯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.