Company News
July 15, 2026
Turnaround at Borsodchem
Wanhua Chemical’s Hungary integrated complex will undergo maintenance starting from July 17 for a duration of 35 days.
2026-07-15 08:44:21Source:ChemNet中文
On July 15, 2026, Wanhua Chemical (600309.SH) disclosed an announcement regarding facility maintenance. To ensure the stable and safe operation of production facilities, and in accordance with the annual maintenance plan, the integrated production line under BorsodChem, a wholly-owned subsidiary of the company in Hungary, will undergo batch shutdowns for maintenance starting from July 17. This involves the 400,000 tons/year MDI and 250,000 tons/year TDI units, as well as a full set of supporting production facilities such as aniline and nitrobenzene. The overall maintenance duration is expected to be 35 days.
The company stated that this shutdown is a routine annual planned maintenance. The domestic production bases in Yantai and Ningbo are maintaining stable production at full capacity, and this maintenance will not have a significant adverse impact on the company’s overall production and operation.
July 6, 2026
Covestro MDI Moves
Covestro plans to invest in new world-scale MDI train in China and starts UAE feasibility study
June 30, 2026 3 min read
• World-scale MDI train at Covestro Integrated Site Shanghai in China with production start at the end of the decade
• UAE feasibility study for second new world-scale MDI train based on existing partnership with TA’ZIZ and Fertiglobe
• Both MDI production trains to achieve operational net-zero greenhouse gas emissions footprint
• Commitment to accompany customer demand with reliable long-term supply in the growing global MDI market
• Program supported by strategic XRG partnership
Covestro today announced a strategic MDI investment program to reinforce its global leadership position and strengthen long-term supply security for customers worldwide. The program includes preparations for a new MDI production train with 660 kilotonnes annual capacity at the Covestro Integrated Site Shanghai in China, with start-up targeted for the end of the decade. In addition, Covestro is conducting a feasibility study for a plant of similar scale in the United Arab Emirates. Both initiatives reflect Covestro’s long-term growth ambitions in the global MDI market. The projects are supported by XRG and highlight the benefits of its global chemicals platform – enabling integrated value chains and strengthening supply resilience across regions.
Meeting growing global MDI demand
“This investment program is a clear commitment to our customers and to our longterm growth in the MDI market,” said Dr. Markus Steilemann, Chief Executive Officer of Covestro. “We see strong and sustained demand, and at the same time increasing requirements for supply reliability. With these planned investments, we are strengthening our ability to serve our customers at scale while leveraging our technology and operational strengths. XRG’s long-term commitment provides the right foundation to execute these projects and enables us to leverage integrated value chains, strengthen supply resilience and compete at a global scale.” Long-term demand for MDI (methylene diphenyl diisocyanate), a key raw material for polyurethane rigid foams, is expected to grow globally, driven by multiple applications: building & construction (energy-efficient insulation), appliances (food chain efficiency and sustainability-driven modernization), and sports and lifestyle applications – particularly in Asia and the Middle East. At the same time, demand growth is projected to outpace capacity additions, increasing the importance of reliable, large-scale supply. Covestro is one of the world’s leading MDI producers with production sites in Europe, Asia, and North America.
China: Building on proven operational excellence
Covestro is preparing to expand its existing site in China with a new MDI production train. In addition to the main MDI unit, the investment includes upstream plants and supporting infrastructure to manufacture key intermediates on site, creating an integrated production setup. The facility will use the proprietary MDI AdiP technology, which significantly reduces energy consumption. Overall, the new MDI train is designed to operate with net-zero greenhouse gas emissions (Scope 1 & 2).
“Our Covestro Integrated Site Shanghai combines strong reliability with proven capabilities in delivering complex projects,” said Dr. Thorsten Dreier, Chief Technology Officer of Covestro. “The new MDI train will improve overall production efficiency and underlines our ambitions to reach operational climate neutrality. This is also achieved thanks to our proprietary AdiP technology, which has been successfully demonstrated at industrial scale in Germany.”
UAE: Exploring strategic ecosystem advantages
The feasibility study for a potential new MDI production facility in the United Arab Emirates will assess synergies within the emerging ecosystem in Al Ruwais Industrial City, building on the previously announced partnership with TA’ZIZ and Fertiglobe. A globally oriented facility of this scale would complement Covestro’s local-for-local production approach and strengthen supply security for customers across all regions.
The assessment will consider access to energy from renewable sources and the integrated industrial platform of the TA’ZIZ chemicals hub, including reliable local supply of key raw materials such as chlorine and ammonia. A potential investment would build on the project blueprint from Shanghai.
XRG brings strategic perspective to Covestro’s growth options Both initiatives reflect Covestro’s ambition to pursue long-term growth opportunities in the global MDI market with discipline and focusing on sustainable value creation. As Covestro’s strategic investor, XRG brings a long-term investment perspective and global platform view to this next phase.
“The planned expansion in China and the feasibility study in the UAE show how we are targeting opportunities to strengthen supply resilience, enhance competitiveness and support customers over the long term”, Steilemann added.
July 6, 2026
Covestro Acquires Vencorex Sites
Covestro completes acquisition of former Vencorex sites in Thailand and the US
July 2, 2026 2 min read
• Covestro completes acquisition of two former Vencorex production sites for HDI derivatives in Rayong, Thailand, and Freeport, Texas, USA
• Additional capacities strengthen Covestro’s regional production network and improve supply resilience for coatings and adhesives customers
• Expanded footprint enhances reliable access to highperformance materials used in automotive, infrastructure, marine, wood furniture, electronics and other industrial applications
Leverkusen, Germany – On July 1, 2026, Covestro completed the acquisition of two former Vencorex production sites for HDI derivatives in Rayong, Thailand, and Freeport, Texas, USA.
With the acquisition, Covestro expands its production footprint for HDI derivatives and reaffirms its commitment in two important regions, while strengthening its ability to serve customers in the coatings and adhesives industry with greater flexibility and reliability.
HDI derivatives are essential building blocks for high-performance polyurethane coatings, adhesives and sealants. They are used in a broad range of applications, including automotive coatings, protective coatings for infrastructure, marine coatings, wood furniture, electronics and other demanding industrial applications.
“By adding these sites in Thailand and the US, we are strengthening our regional production capabilities and improving our ability to supply customers from locations close to them,” said Thomas Roemer, Head of the Business Entity Coatings and Adhesives at Covestro. “Reliable supply, regional availability and technical expertise are critical for our customers, especially in a challenging market environment. This acquisition helps us deliver even better on those needs.”
The two sites complement Covestro’s existing production network for HDI derivatives in major regions including Europe, Asia and North America. The additional capacities will further enhance Covestro’s ability to respond to customer demand and support long-term growth in high-performance and more sustainable coatings and adhesives applications.
“Strong customer relationships are built on trust, reliability and the ability to deliver value over time,” said Monique Buch, Chief Commercial Officer of Covestro. “This acquisition strengthens our position in a business where customers count on us for consistent quality, regional supply and application expertise.”
The acquisition follows Covestro’s earlier acquisition of the Resins & Functional Materials business from DSM and continued investments in organic growth, underlining the company’s commitment to the coatings and adhesives industry.
July 2, 2026
FXI Fire in Mexico
FOMEX fire causes evacuations in Cuautitlán Izcalli
A fire at the FOMEX company mobilizes emergency forces in Cuautitlán Izcalli, generating evacuations and security measures to protect the community. Sunday, June 28, 2026 08:33 hrs.
Translated by AI
During the early hours of Sunday, a strong fire was recorded in the company FOMEX, located in the community of San Mateo Ixtacalco, Cuautitlán Izcalli, State of Mexico. The flames, visible from several kilometers, generated an intense mobilization of Firefighters and Civil Protection, who worked to quell the fire and prevent its spread to nearby properties.
Neighbors alerted authorities to the crash, which quickly spread, leading to the evacuation of several factories in the area. So far, the cause of the fire and if there are people injured is unknown. Civil Protection recommended that the population stay away from the affected area to prevent further risks.
In the coming hours, city and state authorities are expected to issue an official statement with detailed information about the incident and the security measures that will be implemented to ensure community protection.
June 14, 2026
Sleep Number Bankruptcy
Sleep Number files Chapter 11, enters agreement to sell company to Sleep Country Canada
Sheila Long O’Mara //Executive Editor, Furniture Today//June 12, 2026
MINNEAPOLIS — Sleep Number has filed for Chapter 11 bankruptcy protection and entered into an agreement that would combine the company with Sleep Country Canada, creating what executives describe as a leading North American mattress and bedding business.
The company announced this morning that it has initiated a voluntary Chapter 11 sale process in the U.S. Bankruptcy Court for the Southern District of New York. As part of that process, Sleep Country Canada will serve as the stalking horse bidder in a court-supervised sale.
The proposed transaction remains subject to higher and better offers, court approval and other customary closing conditions. Sleep Number executives said the company expects to continue normal operations throughout the restructuring process.
“For 40 years, Sleep Number has been a leader in sleep innovation, helping millions of customers improve their health and well-being through personalized sleep solutions,” said Linda Findley, president and CEO. “While we have made meaningful progress advancing our turnaround efforts and strengthening our operations, our capital structure remains unsustainable.”
The filing marks a turn for one of the bedding industry’s most recognizable brands and comes amid an ongoing wave of consolidation across the mattress category. The company lists assets of between $500 million to $1 billion, and liabilities of between $1 billion and $10 billion.
Sleep Number said it expects to secure up to $260 million in debtor-in-possession financing, including up to $65 million in new financing, to support operations during the court-supervised process. The company said the financing, combined with cash generated through operations, is expected to provide sufficient liquidity while the sale process moves forward.
The company also sought to reassure customers and retail partners that business will continue as usual. Sleep Number stores remain open, its e-commerce platform continues to accept orders, and the company’s connected smart bed infrastructure and mobile app will remain operational.
The company has been working to improve performance through a broad turnaround strategy that included the largest product redesign in nearly a decade, the launch of a new integrated marketing campaign and efforts to reduce costs and improve profitability.
Findley said the agreement with Sleep Country Canada emerged following a review of strategic alternatives and a sale process designed to address the company’s financial challenges.
“We are confident that moving forward with the Sleep Country Canada agreement and this court-supervised sale process will enable us to address our financial constraints,” she said. “It will also position us to expand our business, helping more people achieve their best sleep both in the United States, and through future international expansion.”
For Sleep Country Canada, the transaction provides an opportunity to add Sleep Number’s proprietary smart bed technology and sleep wellness platform to its portfolio while expanding its presence in the U.S. market.
“We have long admired Sleep Number, its game-changing personalized sleep products and the talented team behind them,” said Stewart Schaefer, president and CEO of Sleep Country Canada. “Together, we see a tremendous opportunity to build on our complementary strengths and accelerate growth across the United States while introducing Sleep Number’s innovative sleep solutions to consumers in Canada and other markets.”
As part of the restructuring process, Sleep Number said it will continue evaluating its retail footprint. The company has filed a motion seeking court approval to reject leases associated with 44 non-operational locations that had already been closed and were not serving customers.
The company said its goal is to maintain as many retail locations as possible based on profitability.
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