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Wu Yong (left) and Daniel Meyer celebrate the signing of global strategic cooperation agreement between Haier and Covestro.
Wu Yong (left) and Daniel Meyer celebrate the signing of global strategic cooperation agreement between Haier and Covestro.

On October 25, Covestro and Chinese household appliances brand Haier signed a strategic cooperation agreement, expanding their decade-long partnership on a global scale to include Haier's newly acquired GE Appliance in America.

In the extended partnership, Covestro will be positioned as Haier's preferred partner to develop materials solutions.

"Covestro is committed to exploring advanced technology to empower Haier and the household appliances industry globally," said Daniel Meyer, Global Head of Covestro's Polyurethanes Business Unit. "This year while we celebrate the 80th anniversary of the invention of polyurethanes (PU), we also strive to lead the upgrading of global insulation technology development and broaden the global strategic cooperation by leveraging our expertise in innovation and global network."

Meanwhile, Haier's global sales network will provide opportunities for Covestro's innovative material solutions to be adopted in major markets, including Asia Pacific, the US and Europe.

"Under the Internet Age, Haier has entered our fifth Strategic Phase – Networking, we aim at building up an ecosysterm for co-creation and win-win partnership," said Wu Yong, General Manager of China Refrigeration Industry of Haier Group. "The extended partnership with Covestro will support our worldwide business strategy by utilizing the latest material solutions in our products in different regions to meet the upgrading needs of global consumers, as well as taking a leading role among Chinese companies going global."

The cooperation has begun since Haier was founded in 1984, when Covestro, previously known as Bayer MaterialScience, supplied PU for Haier to produce the thermal insulation layer of refrigerators.

In 2006, Haier became one of the first clients of Covestro's integrated site in Shanghai with a trading volume of over 10,000 tons of MDI. And since 2008, Haier started to purchase system formulation from Covestro developed by its Shanghai Polymer Research and Development Center (PRDC).

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