Page 24 - Plastics News November 2018

CompAny news

Wincore expanding to Georgia

incore Window Company LLC, a leading American level and look forward to a long, successful partnership.”
Wmanufacturer of premium vinyl windows and Wincore currently employs 340 people nationwide. The
fiberglass entry door systems will invest $6.5 million in a company will occupy an existing 75,000-square-foot
manufacturing facility in Swainsboro and further create 150 manufacturing facility in Swainsboro and begin operations
new jobs. “Our highly skilled workforce, proximity to the in April 2019. “This is tremendous news for Swainsboro
Southeastern market and unmatched logistics infrastructure and Emanuel County, and just emphasizes once again
continue to attract industry-leading manufacturers how teamwork and persistence pay off,” said Swainsboro
like Wincore Window Company to Georgia,” said Deal. Mayor Charles Schwabe. “Wincore will be a great addition
“Wincore’s choice of Emanuel County reflects Georgia’s to our manufacturing community and I especially want to
commitment to providing industry leaders with the best commend our Emanuel County EDA and GDEcD for their
resources to compete nationwide. With this investment, outstanding work in bringing this project to Swainsboro.”
Wincore will build upon the strategic resources of the
No. 1 state for business to spur further economic growth Covestro to cut 900 jobs
in the Swainsboro community and create quality jobs
for Georgians. We welcome Wincore to Georgia and look worldwide
forward to the company’s success here in our low-tax,
business-friendly climate.” Wincore products include both
ovestro A.G. is cutting 900
Cjobs globally as part of a
company-wide cost savings
move. The Leverkusen-based
plastics and chemicals firm
announced the cuts as part
of its third-quarter earnings
release. The move is part of
a plan to save $398 million
by 2021. Chief Financial
new construction and retrofit vinyl windows and sliding Officer Thomas Toepfer said in a news release that third
patio doors, as well as a full line of classic and decorative quarter results "met our expectations," but added that
glass fiberglass entry systems. The company also produces Covestro "is seeing increasingly challenging economic
a line of impact-resistant vinyl windows, sliding patio conditions, and also experienced limited product
doors and fiberglass entry systems specifically designed
for coastal areas. availability in Europe and Asia in the past quarter."
Officials listed administrative areas as a potential
“We looked at several regions in the southeast and very category for the job cuts. The cuts represent about
quickly decided that Swainsboro was an extremely good fit 5.5 percent of Covestro's global work force of 16,200.A
for Wincore’s strategic expansion plans,” said Clark Davis, company spokesman said that 400 of the job cuts will
president of Wincore. “Based on early discussions with Ken take place in Germany. He added that all 900 cuts are
Warnock at the Emanuel County Economic Development
Authority (Emanuel County EDA) and Ryan Waldrep at the expected to be made by 2021.In the first nine months
Georgia Department of Economic Development (GDEcD), of 2018, Covestro's sales were up almost 7 percent to
Wincore’s management and ownership believed the new more than $12.8 billion, while profit jumped almost 21
plant would have tremendous support from both the county percent to more than $1.9 billion Third-quarter growth,
and the state. Those early interactions proved to be correct however, was lower, with sales up 5 percent, but profit
as the county and the state have been incredibly flexible in up only 1 percent. Covestro ranks as a major global
structuring programs that will allow Wincore to succeed. producer of polycarbonate, polyurethanes and other
We truly thank the leadership at the county level and state specialty plastics and chemical products.

Plastics News November 2018 24