Covestro Finalizes Acquisition of Former Vencorex Sites
Covestro recently announced it has completed the acquisition of two former Vencorex production sites for HDI derivatives in Rayong, Thailand, and Freeport, Texas. With the acquisition, Covestro expands its production footprint for HDI derivatives and strengthens its ability to serve customers in the coatings and adhesives industry with greater flexibility and reliability.
“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. “Reliable supply, regional availability and technical expertise are critical for our customers, especially in a challenging market environment. This acquisition helps us deliver even better on those needs.”
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.
“Strong customer relationships are built on trust, reliability and the ability to deliver value over time,” said Monique Buch, Chief Commercial Officer of Covestro. “This acquisition strengthens our position in a business where customers count on us for consistent quality, regional supply and application expertise.”
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.
Learn more about Covestro at covestro.com.
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