+
Covestro Acquires Former Vencorex Sites in US and Thailand
ECONOMY & POLICY

Covestro Acquires Former Vencorex Sites in US and Thailand

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.

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.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code