Covestro, a global polymer materials supplier, is extending its Insqin Partner Manufacturer Program, signing an agreement with Kunshan Xiefu New Material Co. Ltd., a Shanghai-based producer of polyurethane coated fabric for worldwide markets.
The companies will collaborate to promote sustainable PU materials in sectors such as fashion apparel and footwear. In its Partner Manufacturer Program, Covestro, formerly Bayer Material Science, connects manufacturers and brand owners across the PU-coated fabric supply chain. Partners must demonstrate an ongoing commitment to sustainability and transparency using Covestro’s waterborne, PU coating technology and processes to meet the emerging sustainability needs of brand owners.
Xeifu is the second company to earn a place in the program, after Korean PU synthetic materials manufacturer Duksung Co. Ltd., and the first Chinese company joining the program.
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“A growing number of brands and retailers are becoming interested in sourcing sustainable materials and further, they need more assurances about the origins and integrity of those materials. The program was developed to link these brands with manufacturers capable of efficiently delivering innovative materials and sustainability best practices,” said Nick Smith, global head of Textile Coatings at Covestro. “We…look forward to supporting the growth of sustainable PU-coated textiles for the fashion apparel and footwear market worldwide.”
Under the program, Covestro will provide technical support to help Xiefu further develop its use of the Insqin technology. Xiefu will also receive verification of its production processes and management systems via a globally recognized third-party audit.
“Xiefu is committed to customer-centric innovation and sustainability to serve the world’s most demanding brands,” said Sun Guohao, chairman of Kunshan Xiefu New Material Co. “As a mark of our quality and professionalism, our validation as an Insqin Partner Manufacturer will help bring new business opportunities by connecting us with brand owners and retailers that want to source sustainable PU-coated materials.”
With 2014 sales of 11.7 billion euros, or $13.27 billion at current exchange, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas, including the automotive, electrical and electronics, construction and sports and leisure industries. Covestro has 30 production sites around the globe and employed about 14,200 people at the end of 2014.
Bayer said it wants to float Covestro on the stock market by mid-2016 in order to concentrate exclusively on the life sciences businesses.