Covestro acquires sites in Thailand and USA to expand HDI derivatives supply
Covestro has signed an agreement with Vencorex Holding SAS, a subsidiary of Thai chemical company PTT Global Chemical Public Company Limited, to acquire two production sites for HDI (Hexamethylene Diisocyanate) derivates in Rayong, Thailand and Freeport, USA.
The legal entities and sites were formerly part of the French aliphatics specialist Vencorex. With this acquisition, Covestro strategically expands and improves its aliphatics production portfolio in the US and in the Asia-Pacific region.
HDI derivatives is an essential component for example in polyurethanes coatings, adhesives and sealants. It can therefore be found in many applications, such as coatings and adhesives for cars, trucks, bridges, ships, wood furniture and electronics.
Covestro is a renowned supplier for HDI derivatives. Through the acquisition of two production sites in Thailand and USA, Covestro complements its existing capacities in the US, Germany, China, India, and more markets.
Both parties have agreed not to disclose the purchase price. The transaction is expected to close by the end of 2025.
