08.01.2020 Cosentino Group is increasing its commitment to Silestone, as a key factor in the sustainable growth and future of the Almeria multinational. In doing so, the company will put in place an investment plan of €133.6 million, specifically for this brand, for the period of 2019-2021. This investment effort also represents an increase of 136% compared to the previous three years (2016-2018). Then, €56.5 million was invested in Silestone.
This strong commitment to Cosentino’s benchmark brand has been particularly notable this year, since, of the total amount earmarked for the current three-year period (€133.6 million), more than €100 million has been committed in 2019 alone. The total sum is principally divided between the implementation of new production lines (up to three new ones in the next few years) and the improvement of existing lines (€82.4 million), as well as continuous investment by the company into workplace safety and the environment (€36 million).
On the latter point, the notable environmental aspect is a crucial part of these efforts, underlining the increasing importance of Cosentino’s policies on sustainability. In the case of Silestone, this was reinforced, for example, at the beginning of the year with the Environmental Product Declaration (EPD) licence for the whole range of brand colours and products, and not only for the ECO Line series, which has pioneered the use and reuse of recycled materials.
Innovation and R&D
The rest of the investment (€15.3 million) is to be put into innovation and R&D, although another significant portion is earmarked for production improvements. Ever since its inception, Silestone has consistently been a disruptive innovator in the sector. Key milestones include the development of the Silestone antibacterial protection system; its continuous evolution into new applications (sinks, 3D manipulation, bathrooms etc…); or, more recently, the incorporation of the new N-Boost technology. A journey of innovation that will continue next year with important new arrivals and launches.
According to Francisco Martínez-Cosentino, President of Cosentino Group, Despite the spectacular arrival of Dekton on the market in recent years, Silestone continues to be our flagship model. In all these years, it’s been a platform for innovation and continuous evolution, driving the whole sector forwards. Our commitment to the brand for the next few years is even stronger and, focusing as always on innovation, production improvements and the most efficient safety measures, we are putting a large part of our investment into revolutionising a whole product category once again, as well as leading the industry with responsibility and future vision.
This investment plan for Silestone fits largely within Cosentino’s Industrial Implementation and Expansion Plan for its Industrial Park. Halfway through the year it received the Declaration of Strategic Interest from the Regional Government of Andalucía. This is a project in which Cosentino expects to invest more than 700 million euros over the next 10 years, along with the creation of around 740 direct jobs. These will be in addition to another 1,900 direct and indirect jobs that will be created during the roll-out of the expansion and construction plans.
*For further information: www.cosentino.com