“The acquisition of these two former Vencorex sites fits perfectly to our portfolio and our strategic goals,” says Christian Baier, Chief Financial Officer of Covestro. “While we maintain cost discipline to secure our short-term performance, we strengthen our long-term competitiveness through targeted investments like this one.”
HDI derivatives are key components in polyurethane coatings, adhesives, and sealants, used in diverse applications such as automotive coatings, infrastructure projects, marine coatings, furniture, and electronics. With this acquisition, Covestro enhances its existing production network, which includes facilities in the USA, Germany, China, and India, among others, enabling the company to better meet global customer demand.
“These new capacities in Thailand and the US will augment our existing comprehensive production capabilities across all major regions. They will enable us to produce and deliver according to our customer’s demands even better, especially during current market challenges,” says Thomas Roemer, Head of the Business Entity Coatings and Adhesives at Covestro. “After the acquisition of the Resins & Functional Materials (RFM) business from DSM and investments in organic growth, this is yet another sign of confidence the company has in the coatings and adhesives business. I look forward to welcoming the new colleagues into our organization!”
The financial details of the transaction have not been disclosed by either party. The acquisition is expected to be finalized by the end of 2025, further solidifying Covestro’s position in the global market for high-performance materials.
