Covestro Acquires Vencorex HDI Production Sites

Covestro plans to acquire two Vencorex isocyanate sites, one in the US and the other in Thailand, from Thai company PTT Global Chemical. The acquisition is expected to be completed by late 2025, but the price is unknown. The facilities in Freeport, Texas and Rayong, Thailand produce HDI. They were formerly part of the French aliphatics specialist Vencorex, whose HDI facility in Grenoble, France was sold earlier this year to Wanhua, via the Chinese company’s Borsodchem subsidiary.

HDI has applications in PU coatings, adhesives and sealants. The acquisitions complement Covestro’s existing capacities in the US, Germany, China and India.

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