Medical Glassmaker Schott to Increase Spending Amid Boost From Covid-19 Vaccines

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, which in 2021 produced vials for over five billion doses of Covid-19 vaccines, expects to expand its plants, including a facility for syringes and vials in Müllheim in Southern Germany, for which it recently added a production line for polymer syringes, Chief Financial Officer Jens Schulte said. The company supplies vaccine makers globally, including in the U.S. and China.