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Schott AG’s finance chief plans to increase spending this year as the specialty glass and materials manufacturer sees growing demand for its products, including syringes and vials for Covid-19 vaccines. The Mainz, Germany-based company intends to invest €450 million, equivalent to about $510 million, this fiscal year. That is up from the €340 million it spent during the year ended Sept. 30.
SCHOTT, the inventor of specialty glass and international technology group, is structuring its presence in North America to align operations with its most robust sales market and accelerate global profitability. SCHOTT’s Pharmaceutical Systems business unit in Lebanon, Pa. contributed to the global COVID-19 response, increasing manufacturing capacity to serve the needs of vaccine makers. In addition, the Pennsylvania plant supplies the growing demand of high-value products such as adaptiQ® ready-to-use vials and EVERIC® pure for highly potent drugs like cancer medication. As part of a multimillion-dollar investment in the U.S. this past fiscal year, the facility saw upgrades and expanded capacity for vial production. Our flexibility and commitment to a strategy of innovation will only strengthen our U.S. operations moving forward. With seven production sites, one R&D center, a sales office, and roughly 1,000 employees in the U.S., SCHOTT is well established,” said Dr. Heinz Kaiser, board member at SCHOTT and responsible for the group’s business in North America.
