The Urethane Blog
Everchem Updates
VOLUME XXI
September 14, 2023
Everchem’s exclusive Closers Only Club is reserved for only the highest caliber brass-baller salesmen in the chemical industry. Watch the hype video and be introduced to the top of the league: — read more
May 20, 2022
Covestro opens Barcelona production line for engineering prepolymer range
by Rob Coker
19 May 2022
11:49
Covestro has launched the production of Desmodur 15 prepolymers at its Spanish site in Barcelona. The company is thus addressing a growing demand for high-performance elastomers for a broader range of demanding applications.Expand
Covestro
Covestro opens Barcelona production line for engineering prepolymer range
COVESTRO, inauguración planta en Barcelona
Combining highly mechanical characteristics with dynamic load-bearing capacity, elastomers based on Desmodur 15 prepolymers are considered among the most powerful and easy to process cast polyurethanes in the market.
Philip Bahke, Head of Operations at Covestro Elastomers, said: “With this strategic investment, Covestro aims to further enlarge the capacity and improve the reliability of its global supply of Desmodur 15-based products.”
Covestro’s Barcelona site has been operating entirely on renewable energy since the beginning of 2022 as part of the company’s ambition to reduce its environmental impact while offering access to specialty products.
The new production unit for Desmodur 15 prepolymers in Barcelona runs parallel to the ongoing expansion of Covestro’s naphthylene diisocyanate (NDI) capacities in the Asia-Pacific region.
Through such investments, Covestro aims to support the demand for ultra-high-performance elastomers used for superior applications in, for example, the materials handling industry and a growing number of engineering applications.
May 20, 2022
Covestro opens Barcelona production line for engineering prepolymer range
by Rob Coker
19 May 2022
11:49
Covestro has launched the production of Desmodur 15 prepolymers at its Spanish site in Barcelona. The company is thus addressing a growing demand for high-performance elastomers for a broader range of demanding applications.Expand
Covestro
Covestro opens Barcelona production line for engineering prepolymer range
COVESTRO, inauguración planta en Barcelona
Combining highly mechanical characteristics with dynamic load-bearing capacity, elastomers based on Desmodur 15 prepolymers are considered among the most powerful and easy to process cast polyurethanes in the market.
Philip Bahke, Head of Operations at Covestro Elastomers, said: “With this strategic investment, Covestro aims to further enlarge the capacity and improve the reliability of its global supply of Desmodur 15-based products.”
Covestro’s Barcelona site has been operating entirely on renewable energy since the beginning of 2022 as part of the company’s ambition to reduce its environmental impact while offering access to specialty products.
The new production unit for Desmodur 15 prepolymers in Barcelona runs parallel to the ongoing expansion of Covestro’s naphthylene diisocyanate (NDI) capacities in the Asia-Pacific region.
Through such investments, Covestro aims to support the demand for ultra-high-performance elastomers used for superior applications in, for example, the materials handling industry and a growing number of engineering applications.
May 18, 2022
Malaysia’s Petronas in $2.4bn deal to buy Swedish chemical maker
Both companies see acquisition as opening new growth paths
Malaysia’s Petronas Chemicals is buying Swedish chemical maker Perstorp Holding. (Source photos courtesy of Petronas Chemicals and screenshot from Perstorp Group YouTube page) P PREM KUMAR, Nikkei staff writerMay 17, 2022 21:12 JST
KUALA LUMPUR — Malaysia’s Petronas Chemicals Group, a subsidiary of state energy firm Petroliam Nasional Berhad (Petronas), said on Tuesday it will acquire Swedish specialty chemicals maker Perstorp Holding in a deal worth 2.3 billion euros ($2.4 billion).
Petronas Chemicals said it signed a securities purchase agreement on Saturday to acquire all shares in Perstorp from European private equity firm Financière Forêt S.à.r.l for 1.54 billion euros in cash and take on Perstorp’s existing debt of 762 million euros.
“Perstorp is an outstanding strategic fit for Petronas Chemicals and enables us to participate in attractive end-markets such as paints and coatings, construction, automotive, personal care and animal nutrition that share a robust growth outlook,” Mohd Yusri Mohamed Yusof, managing director and CEO of the Malaysian company, said in a statement.
In a separate release, Jan Secher, Perstorp’s president and CEO, highlighted advantages for the Swedish company.
“By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth,” Secher said.
According to its website, Perstorp was established more than 140 years ago and has expertise in resins and coatings, engineered fluids and animal nutrition markets.
The Swedish company also operates in 26 countries and has seven manufacturing sites and three research and development centers. It employs about 1,500 people and has over 2,600 customers worldwide. It offers 130 products within 30 product groups.
In the financial year ended December 2021, Perstorp recorded 1.3 billion euros in revenue and 103 million euros in after-tax profit.
For the same period, Petronas Chemicals had a net profit of 7.35 billion ringgit ($1.67 billion) on the back of 23.03 billion ringgit in revenue.
According to Mohd Yusri, Perstorp will add up to 2.3 metric tons a year to Petronas Chemicals’ production capacity and contribute about 28% in incremental revenue to the company based on the 2021 results.
The completion of the acquisition is subject to relevant regulatory and shareholder approvals.
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