High-performance polymers company Covestro (Pittsburgh, Pennsylvania, USA) Covestro successfully completed the acquisition of the resins and functional materials (RFM) business from Dutch company Royal DSM.
The transaction substantially expands Covestro’s portfolio of sustainable coating resins, according to the company, making it one of the world’s leading providers in this growth market. The integration of RFM will expand the group’s revenues by around €1 billion and add more than 20 sites to its global production network.
“The acquisition of RFM significantly contributes to the implementation of our new Group strategy. With this transaction, we are taking another important step towards sustainability, while at the same time generating sustainable growth,” says Markus Steilemann, CEO.
With the transaction, Covestro is expanding its business in several areas. The group is already among the leading global providers of water-based polyurethane dispersions. To that end, the acquisition adds a complete range of water-based polyacrylate resins, as well as strong brands in terms of sustainability such as Niaga, solutions for additive manufacturing, and an advanced solar coatings business. In addition, Covestro is enhancing its technology portfolio to include water-based hybrid technologies, powder coating resins, and radiation curing resins.
“With this transaction, we are strengthening our extensive portfolio with further innovative products and technologies that will enable us to meet our customers’ needs in optimal fashion,” says Sucheta Govil, chief commercial officer. “Now our focus is on integrating the teams, leveraging talent, and providing the best possible support for our new and existing customers.”
Source: Covestro, www.covestro.com.