Covestro said strong demand for its plastics boosted 2017 sales by nearly 20 percent over the prior year.

Global sales for the Germany-based company totaled 14.1 billion euros ($17.4 billion) while net income more than doubled to 2 billion euros, up from 795 million euros in 2016.

In North America, where the company has its headquarters in Robinson, sales were 3.4 billion euros, up 7 percent.

Covestro makes plastics and resins used in industrial and consumer products including electronics, insulation, furniture and automobile parts.

The business was spun out of Bayer in 2015, and since then, the pharmaceutical giant has been selling off shares. It now owns 14 percent of Covestro.

“We have achieved an impressive result in 2017 and significantly exceeded our overall targets,” said Patrick Thomas, Covestro’s chief executive.

The company’s cash flow was so strong that it revised its projection to deliver cumulative operating cash flow of 5 billion euros to within three years. It previously expected to deliver that amount within five years.

Results for the fourth quarter were the most successful in Covestro’s history with sales up by 17 percent over the year-ago period.

In a release accompanying its earnings, the company said it expects to make more investments in equipment and facilities and is targeting acquisitions.

Growth areas, according to Mr. Thomas, include its current markets as well as energy-efficient construction, energy-saving lighting and electric-powered vehicles.

Joyce Gannon: jgannon@post-gazette.com or 412-263-1580.

First Published: February 20, 2018, 3:40 p.m.