Covestro completes acquisition of two HDI derivatives sites in Thailand and the US
On July 1, Covestro completed the acquisition of two former Vencorex production sites for HDI derivatives in Rayong, Thailand, and Freeport, the US.
HDI derivatives production site in Rayong, Thailand.
HDI derivatives production site in Freeport, Texas, the US.
With the acquisition, Covestro expands its production footprint for HDI derivatives and reaffirms its commitment in two important regions, while strengthening its ability to serve customers in the coatings and adhesives industry with greater flexibility and reliability.
HDI derivatives are essential building blocks for high-performance polyurethane coatings, adhesives and sealants. They are used in a broad range of applications, including automotive coatings, protective coatings for infrastructure, marine coatings, wood furniture, electronics and other demanding industrial applications.
“By adding these sites in Thailand and the US, we are strengthening our regional production capabilities and improving our ability to supply customers from locations close to them,” said Thomas Roemer, Head of the Business Entity Coatings and Adhesives at Covestro.
The two sites complement Covestro’s existing production network for HDI derivatives in major regions including Europe, Asia and North America. The additional capacities will further enhance Covestro’s ability to respond to customer demand and support long-term growth in high-performance and more sustainable coatings and adhesives applications.
The acquisition follows Covestro’s earlier acquisition of the Resins & Functional Materials business from DSM and continued investments in organic growth, underlining the company’s commitment to the coatings and adhesives industry.
