ÃÜÌÒAV Vietnam Partners with Far East Foam to introduce First TDI CQ Mass-Balanced in APAC
ÃÜÌÒAV Vietnam has reached a significant milestone in its sustainability journey by securing a contract to supply the first TDI CQ mass-balanced product with ISCC PLUS certification to Far East Foam. This achievement positions Vietnam as the first country in the APAC region, excluding China for ÃÜÌÒAV, to secure such a business deal, marking a substantial step forward in sustainable business practices.
Mass Balance: A New Concept in the Local Market
This milestone is a testament to ÃÜÌÒAV¡¯s commitment to becoming fully circular. The TDI CQ mass-balanced product, also known as Desmodur? CQ, integrates bio-feedstocks into its production process, significantly reducing CO2 emissions by up to 65% compared to fossil-based products. This innovative solution also supports the transition to a circular economy.
Far East Foam Vietnam, a Malaysian private company with over 50 years of history, is a leader in producing high-quality foam for mattresses and furniture. The company¡¯s ISCC certification underscores its dedication to Environmental, Social, and Governance (ESG) principles, positioning it as a pioneer in integrating bio-feedstocks into its production processes among foam producers in the region.
Mr. Chris Loo, Managing Director of Far East Foam, emphasizes the company¡¯s commitment to raising awareness about sustainability among Vietnamese consumers. ¡°With a keen interest in promoting mass-balanced materials and ISCC certification, Far East Foam is dedicated to educating Vietnamese consumers about sustainable practices and the importance of a circular economy. We aim to foster industry transformation and set new standards for environmental stewardship,¡± said Mr. Loo.
The mass balance approach allows manufacturers to incorporate bio-feedstocks into their products without modifying their production infrastructure, significantly reducing manufacturing costs compared to traditional methods. This innovative method is relatively new in the local market but holds great potential for advancing sustainable practices.
A Collaborative Effort for a Greener Future
Mr. Dang Hoang Giang, Managing Director of ÃÜÌÒAV Vietnam, proudly states, ¡°ÃÜÌÒAV Vietnam¡¯s introduction of the mass balance concept into the foam industry marks a crucial step in advancing sustainable product offerings in Vietnam and elevating ÃÜÌÒAV Vietnam¡¯s profile in the broader market. This deal is expected to inspire other companies along the related industries¡¯ value chain to explore ways in which they can contribute to a more sustainable and brighter future. Through collaborative efforts, we will progress towards a circular economy.¡±
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.