Covestro to acquire two HDI production sites from Vencorex
Last update on Aug 15, 2025
Covestro signs an agreement with Vencorex Holding SAS, a subsidiary of Thai chemical company PTT Global Chemical Public Company Limited, to acquire two legal entities with stand-alone production sites for HDI (hexamethylene diisocyanate) derivates in Rayong, Thailand and Freeport, USA. The legal entities and sites were formerly part of the French aliphatic specialist Vencorex.
Strategic aliphatic expansion in US & Asia-Pacific region
With this acquisition, Covestro strategically expands and improves its aliphatic production portfolio in the US and in the Asia-Pacific region. Thereby, the company further advances the implementation of its ‘Sustainable Future’ corporate strategy by continuing its growth in profitable and innovative business areas like Coatings and Adhesives.
"The acquisition of these two former Vencorex sites fits perfectly to our portfolio and our strategic goals," said Christian Baier, chief financial officer of Covestro. "While we maintain cost discipline to secure our short-term performance, we strengthen our long-term competitiveness through targeted investments like this one.”
Covestro is a renowned supplier of HDI derivatives. It is an essential component, for example in polyurethanes coatings, adhesives and sealants. It can therefore be found in a myriad of applications, like coatings and adhesives for cars, trucks, bridges, ships, wood furniture and electronics, to name just a few. Through the acquisition, Covestro complements its existing capacities in the US, Germany, China, and India, among others.
"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," said Thomas Roemer, head of the Business Entity Coatings and Adhesives at Covestro.
“After the acquisition of the Resins & Functional Materials (RFM) business from DSM and investments in organic growth this is yet another sign of confidence the company has in the coatings and adhesives business. I look forward to welcoming the new colleagues into our organization!”
Both parties have agreed not to disclose the purchase price. The transaction is expected to close by the end of 2025.