Speciality glass manufacturer Schott is planning to invest a record amount this fiscal year.

The group intends to invest €350 million, which is an increase on last year’s record amount of €320 million.

The technology group continues to expect positive impulses in pharmaceutical packaging, in the field of diagnostics, as well as in cover and thin glasses for smartphones and consumer electronics.

New plans include a new melting unit for pharmaceutical glass and the expansion of thin glass production. International focal points include expansion of capacities in China, Switzerland, Hungary and the United States.

Despite the challenging economic situation, the company plans to increase its sales by up to 5%.

Chairman of the Board of Management Frank Heinricht, said: “Of course, we are also anticipating a decline in demand in some industries. At the same time, our balanced portfolio is helping us.

"We feel well prepared to master these economic challenges.”

It is also intensifying its efforts in the area of climate protection. In its new Group Strategy, it has set itself the ambitious goal of becoming climate-neutral by 2030.

“We have already reached an important initial milestone here,” said CFO Dr. Jens Schulte. Globally, the group already covers 75% of its global electricity needs with green power via relevant certificates of origin.

At the same time, a whole series of projects have been launched to develop the use of hydrogen and other energy sources for heating the melting units.