Strengthening Specialty Solutions for Long-Term Growth
Covestro, a leading German materials manufacturer, is accelerating its growth strategy in the Solutions & Specialties segment with the acquisition of two production sites dedicated to HDI (Hexamethylene Diisocyanate) derivatives. The facilities, located in Freeport (USA) and Rayong (Thailand), were formerly operated by French aliphatics specialist Vencorex and are now being integrated into Covestro’s global network.
This move significantly enhances Covestro’s specialty isocyanate footprint, improving supply capabilities across key regions including the United States and Asia-Pacific. By expanding its portfolio of aliphatic isocyanates, Covestro strengthens its position as a global leader in Coatings and Adhesives, a core growth market within its Sustainable Future corporate strategy.
“The acquisition of these two sites is fully aligned with our long-term vision. It adds strategic value to our portfolio while supporting cost discipline and competitiveness,” said Christian Baier, Chief Financial Officer of Covestro.
Boosting Global Supply for Coatings & Adhesives
HDI derivatives are essential components for polyurethane coatings, adhesives, and sealants, used in a wide range of applications such as:
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Automotive and transportation coatings (cars, trucks, ships, bridges)
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Industrial and wood furniture finishes
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Electronics and construction adhesives
With the addition of the new capacities in Thailand and the US, Covestro will be able to serve customers with even greater flexibility and resilience, particularly in times of market volatility.
Thomas Roemer, Head of Covestro’s Coatings and Adhesives business, added:
“These facilities perfectly complement our existing global footprint in Germany, China, India, and the US. Together with previous investments, including the acquisition of DSM’s Resins & Functional Materials (RFM) business, this demonstrates our strong confidence in the future of coatings and adhesives.”
Advancing the Circular Economy and Climate Goals
The acquisition also supports Covestro’s commitment to a circular economy and its ambitious climate targets:
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Climate neutrality for Scope 1 and 2 emissions by 2035
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Climate neutrality for Scope 3 emissions by 2050
In 2024, Covestro generated EUR 14.2 billion in sales and operated 46 production sites worldwide with approximately 17,500 employees.
The transaction with Vencorex is expected to close by the end of 2025. Both parties agreed not to disclose the purchase price.
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