#Becoming1Covestro: Creating a global reference for sustainable coating resins

Today, I am very grateful and excited about a major milestone for Covestro and in my own professional life.

Covestro has announced the closing of its acquisition of DSM’s Resins & Functional Materials (RFM) business. This is the single largest acquisition for our young company with an 80+ years history. In combination with Covestro’s existing coatings and adhesives businesses, it is a fantastic opportunity to create one of the leading suppliers of sustainable coating solutions.

United by shared dedication

We have the pleasure to welcome approximately 1,800 new colleagues at Covestro and I am very eager to openly share, learn and help develop our joint teams and businesses. Both companies have grown and flourished on their own over the past decades, but they have both shared a mutual dedication towards innovation, sustainability, safety as well as providing superior customer value.

Synergies for customers and the environment

The breadth of chemistry and technology added to our portfolio will allow Covestro to be an even more valued partner for customer innovation to continue to push the boundaries of what seems impossible. The closing of our acquisition is the start of a journey that offers great opportunities for our people, our customers, our partners and last but definitely not least: our planet.

The RFM businesses add a portfolio of exciting technologies and brands geared towards improving the sustainability along the value chain that yields end products made with our materials. For example, our customers will benefit from strong waterborne technology across different sets of backbone chemistry that allows to reduce or eliminate volatile organic compounds such as solvents in their coating solutions – with products like the Decovery? line.

On top of the obvious environmental and health benefits, we are obtaining highly efficient systems and technologies such as UV-curing solutions and powder coating raw materials. The acquisition also adds specialty innovation businesses in the areas of Additive Manufacturing with the Somos? products, Solar Coatings and Circularity with the Niaga? team.

#Becoming1Covestro

I am very thankful to the team of DSM, especially my counterpart Helen Mets, for being such a great leader with foresight, humour and a shared passion for making a difference for people and our planet.

Equally, I am very thankful to the Covestro teams. They have made this transaction possible through many long days and nights, passionately paving the way to make the deal come to fruition, despite the challenging pandemic situation.

I am confident that the combined team will now grow our business to new heights in support of Covestro’s long-term vision to become fully circular.

Let’s kick off this new chapter!