Covestro Acquires Former Vencorex Sites in US and Thailand

18 Aug 2025 CW Team

Covestro, the German materials manufacturer, has signed an agreement with Vencorex Holding SAS, a subsidiary of Thai chemical company PTT Global Chemical Public Company, to acquire two stand-alone production sites for Hexamethylene Diisocyanate (HDI) derivatives in Rayong, Thailand, and Freeport, USA. These entities, previously part of the French aliphatics specialist Vencorex, will enhance Covestro’s global aliphatics production network.

The acquisition supports Covestro’s “Sustainable Future” corporate strategy by driving growth in profitable and innovative segments, particularly coatings and adhesives.

Christian Baier, Chief Financial Officer of Covestro, said, “The acquisition of these two former Vencorex sites fits perfectly to our portfolio and our strategic goals. While we maintain cost discipline to secure our short-term performance, we strengthen our long-term competitiveness through targeted investments like this one.”

HDI derivatives are essential for polyurethane coatings, adhesives, and sealants, with applications spanning cars, trucks, bridges, ships, wood furniture, and electronics. The new sites will complement Covestro’s existing production capacities in the US, Germany, China, and India, enabling more resilient supply for global customers.

Thomas Roemer, Head of the Business Entity Coatings and Adhesives at Covestro, added, “These new capacities in Thailand and the US will augment our existing comprehensive production capabilities across all major regions. They will enable us to produce and deliver according to our customer’s demands even better, especially during current market challenges.”

Both parties have agreed not to disclose the purchase price. The transaction is expected to close by the end of 2025.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..