News Markets & Companies
Covestro expands isocyanate portfolio with acquisition of former Vencorex sites
Covestro has acquired two production sites for HDI derivatives in the USA and Thailand, strengthening its global network for aliphatic isocyanates and advancing its growth strategy in the Solutions & Specialties segment.
Covestro has signed an agreement with Vencorex Holding SAS, a subsidiary of PTT Global Chemical, to acquire two production companies for HDI (hexamethylene diisocyanate) derivatives. The sites in Rayong, Thailand, and Freeport, USA, previously belonged to the French aliphatic specialist Vencorex. With this acquisition, Covestro is strategically expanding its production capacity for aliphatic isocyanates in the USA and Asia-Pacific regions.
The move forms part of the company’s long-term growth strategy in the Solutions & Specialties segment, particularly in the Coatings & Adhesives business. Covestro emphasised that the acquisition will enhance competitiveness and improve supply security for customers. HDI derivatives are a key component in polyurethane coatings, adhesives and sealants, with applications in sectors such as automotive, construction, furniture and electronics.
Strengthening capacity across all core markets
The addition of these sites complements Covestro’s existing facilities in the USA, Germany, China and India. According to Thomas Roemer, Head of the Coatings & Adhesives business unit, the extra capacity will enable more flexible and customer-oriented production, even under challenging market conditions. The acquisition follows Covestro’s purchase of DSM’s Resins & Functional Materials business in 2020 and further investments in organic growth.
