The Urethane Blog
April 5, 2021
01 April 2021
Covestro successfully completes acquisition of Resins & Functional Materials business from DSM
Significant step towards implementing the company’s long-term strategy
- Covestro to become one of the leading global suppliers for sustainable coating resins
- Acquisition adds around EUR 1 billion in revenues
- Consequent implementation of sustainable growth strategy
On April 1, 2021, Covestro succesfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The transaction received regulatory approval after Covestro and DSM signed an acquisition agreement in late September 2020. The transaction substantially expands Covestro’s portfolio of sustainable coating resins, making the Group one of the world’s leading providers in this growth market. The integration of RFM will expand the Group’s revenues by around EUR 1 billion and will 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,” said Dr. Markus Steilemann, CEO of Covestro. “We are looking forward to meeting our new colleagues and warmly welcoming them to Covestro.”
With the transaction, Covestro is expanding its business in several areas. The Group is already one of the leading global providers of water-based polyurethane dispersions. The acquisition of RFM 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 as well as radiation curing resins.
Sucheta Govil, Chief Commercial Officer at Covestro: “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. Now our focus is on integrating the teams, leveraging talent and providing the best possible support for our new and existing customers.”
Following a comprehensive analysis, Covestro expects permanent (“run-rate”) synergy effects to build-up to about EUR 120 million per annum from full integration by 2025. These consist of approximately two-thirds of cost and one-third of revenue synergies.
April 5, 2021
01 April 2021
Covestro successfully completes acquisition of Resins & Functional Materials business from DSM
Significant step towards implementing the company’s long-term strategy
- Covestro to become one of the leading global suppliers for sustainable coating resins
- Acquisition adds around EUR 1 billion in revenues
- Consequent implementation of sustainable growth strategy
On April 1, 2021, Covestro succesfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The transaction received regulatory approval after Covestro and DSM signed an acquisition agreement in late September 2020. The transaction substantially expands Covestro’s portfolio of sustainable coating resins, making the Group one of the world’s leading providers in this growth market. The integration of RFM will expand the Group’s revenues by around EUR 1 billion and will 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,” said Dr. Markus Steilemann, CEO of Covestro. “We are looking forward to meeting our new colleagues and warmly welcoming them to Covestro.”
With the transaction, Covestro is expanding its business in several areas. The Group is already one of the leading global providers of water-based polyurethane dispersions. The acquisition of RFM 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 as well as radiation curing resins.
Sucheta Govil, Chief Commercial Officer at Covestro: “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. Now our focus is on integrating the teams, leveraging talent and providing the best possible support for our new and existing customers.”
Following a comprehensive analysis, Covestro expects permanent (“run-rate”) synergy effects to build-up to about EUR 120 million per annum from full integration by 2025. These consist of approximately two-thirds of cost and one-third of revenue synergies.
April 5, 2021
Polyurethane Foam Association To Offer “Hybrid” Meeting Format
For Spring
The May 26-27 Meeting Will Be Held Live in St. Petersburg, FL And Streamed Online
LOUDON, TN (April 5, 2021)—The Polyurethane Foam Association’s Spring Meeting May 26-
27 will be conducted in a “hybrid” format, with both a live meeting at the Vinoy Renaissance in
St. Petersburg, FL, and a virtual portal for online participation. Registration details are available
at www.pfa.org/2021-spring-meeting.
PFA conducted a poll of members in early March, and respondents strongly favored the hybrid
approach, allowing members to choose in-person or online participation based on health
considerations and company travel policies.
The Vinoy Renaissance has reopened with limited capacity, and has protocols in place to
enhance safety, including mandatory masks in indoor public areas, social distancing, and
frequent sanitation.
“From the moment we opened the registration website, we had people signing up to come to the
live meeting,” noted Russ Batson, PFA’s Executive Director “Many people are eager to get back
to networking and attending conferences. I’ve had several people comment that the constrained
schedule of industry events last year made them realize how much they enjoy getting together
and interacting with colleagues and peers.”
“We wanted to provide our membership with as much flexibility as possible, because we’re still
in a very fluid situation,” said Chip Holton of NCFI Polyurethanes, PFA’s President. “We are
fortunate to have a long-standing relationship with a superb property in the Vinoy Renaissance,
which has taken exceptional measures to protect its guests. And we have the technology
available to connect other members who may not be there in person, but can participate and
contribute remotely.”
The meeting will feature an Industry Issues Session, which will cover topics including
isocyanates, auto industry trends, regulatory topics, and raw material/logistics challenges. A
Technical Program will feature presentations on new flexible foam formulations, manufacturing,
and recycling. A General Business Session will cover association business, celebrate PFA’s 40 th
Anniversary, and feature a keynote address from author Stephen Vogel.
Vogel is the author of Betrayal in Berlin: The True Story of the Cold War’s Most Audacious
Espionage Operation, published in 2019 by Custom House, a William Morrow imprint. He is a
veteran journalist who reported for The Washington Post for more than two decades. His
reporting about the war in Afghanistan was part of a package of Washington Post stories selected
as a finalist for the 2002 Pulitzer Prize.
The Polyurethane Foam Association is a trade association founded in 1980 to help educate foam
users, allied industries, and other stakeholders about flexible polyurethane foam (FPF). PFA
provides facts on environmental, health and safety issues and technical information on the
performance of FPF in consumer and industrial products. FPF is used as a key comfort
component in most upholstered furniture and mattress products, along with automotive seating,
carpet cushion, packaging, and numerous other applications. Learn more at www.pfa.org.
April 5, 2021
Polyurethane Foam Association To Offer “Hybrid” Meeting Format
For Spring
The May 26-27 Meeting Will Be Held Live in St. Petersburg, FL And Streamed Online
LOUDON, TN (April 5, 2021)—The Polyurethane Foam Association’s Spring Meeting May 26-
27 will be conducted in a “hybrid” format, with both a live meeting at the Vinoy Renaissance in
St. Petersburg, FL, and a virtual portal for online participation. Registration details are available
at www.pfa.org/2021-spring-meeting.
PFA conducted a poll of members in early March, and respondents strongly favored the hybrid
approach, allowing members to choose in-person or online participation based on health
considerations and company travel policies.
The Vinoy Renaissance has reopened with limited capacity, and has protocols in place to
enhance safety, including mandatory masks in indoor public areas, social distancing, and
frequent sanitation.
“From the moment we opened the registration website, we had people signing up to come to the
live meeting,” noted Russ Batson, PFA’s Executive Director “Many people are eager to get back
to networking and attending conferences. I’ve had several people comment that the constrained
schedule of industry events last year made them realize how much they enjoy getting together
and interacting with colleagues and peers.”
“We wanted to provide our membership with as much flexibility as possible, because we’re still
in a very fluid situation,” said Chip Holton of NCFI Polyurethanes, PFA’s President. “We are
fortunate to have a long-standing relationship with a superb property in the Vinoy Renaissance,
which has taken exceptional measures to protect its guests. And we have the technology
available to connect other members who may not be there in person, but can participate and
contribute remotely.”
The meeting will feature an Industry Issues Session, which will cover topics including
isocyanates, auto industry trends, regulatory topics, and raw material/logistics challenges. A
Technical Program will feature presentations on new flexible foam formulations, manufacturing,
and recycling. A General Business Session will cover association business, celebrate PFA’s 40 th
Anniversary, and feature a keynote address from author Stephen Vogel.
Vogel is the author of Betrayal in Berlin: The True Story of the Cold War’s Most Audacious
Espionage Operation, published in 2019 by Custom House, a William Morrow imprint. He is a
veteran journalist who reported for The Washington Post for more than two decades. His
reporting about the war in Afghanistan was part of a package of Washington Post stories selected
as a finalist for the 2002 Pulitzer Prize.
The Polyurethane Foam Association is a trade association founded in 1980 to help educate foam
users, allied industries, and other stakeholders about flexible polyurethane foam (FPF). PFA
provides facts on environmental, health and safety issues and technical information on the
performance of FPF in consumer and industrial products. FPF is used as a key comfort
component in most upholstered furniture and mattress products, along with automotive seating,
carpet cushion, packaging, and numerous other applications. Learn more at www.pfa.org.
April 2, 2021
Repi: Acquisition of Novosystems
On 30 March 2021, Repi, a leading supplier of liquid colour and additive solutions for polyurethanes and thermoplastics, announced that it has acquired Novosystems GmbH, one of the few independent European players in the field of liquid colours and additives for thermoplastic materials. Financial details of the transaction were not disclosed.
According to Repi, with the acquisition of the German-based company, it will strengthen its position in one of the key polyurethanes and plastics markets in the world, as well as improving the group’s geographical footprint in Central and Northern Europe, with the aim of providing better and faster response to the market. Novosystems will also contribute with interesting complementary technology platforms, which can be leveraged by Repi’s global presence, and will accelerate value creation through superior level of expertise in liquid formulation and dispersion technologies.
“Welcoming a private, family-owned company in our group is another exciting milestone for Repi, as both companies shared a common history in liquid colourants for plastics, and we are looking forward to shape our future together based on common values and a long-term vision and strategy. Germany has long been one of the most important markets for Repi, and this investment strengthens our commitment to a country served by Repi for over 40 years”, said Filippo Angiolini, Repi Group CEO.
Repi Group operates since 1973 as a supplier of liquid colours and additives for plastics and thermoset resins that find applications in a variety of industries, including packaging, furniture, building and construction, footwear and automotive. Today, Repi is a Swiss based global supplier, with own facilities in the USA, Italy, the UK, Russia and Thailand.
https://www.gupta-verlag.com/news/technology/25076/repi-acquisition-of-novosystems
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