Covestro Acquires Swiss Adhesive Film Specialist, Secures Advanced Adhesive Film Technologies

Strategic Transformation of the Specialty Films Business

Covestro, a global advanced materials company, announced on June 30 that it has signed an agreement to acquire Pontacol, a Swiss manufacturer specializing in multilayer adhesive films.

Exterior view of Covestro headquarters located in Leverkusen, Germany. Covestro Korea

This acquisition is expected to serve as a significant milestone in strategically strengthening Covestro's specialty films business, while also advancing Covestro's sustainability vision of a "Sustainable Future." Building on this, Covestro plans to continuously expand its growth in high value-added business areas.

Christian Baier, Chief Financial Officer (CFO) of Covestro, stated, "The acquisition of Pontacol is not only a strategically meaningful decision, but is also expected to have positive effects in terms of financial stability and profitability." He added, "Through this acquisition, we will strengthen our production capabilities in Europe, combine the innovative strengths of both companies to pioneer new markets, and provide even more robust solutions to our customers."

With this acquisition, Covestro will add advanced film technologies such as flat and blown films to its portfolio, thereby establishing a foundation to effectively respond to the growing demand in future key markets such as medical technology, mobility, and the textile industry.

Additionally, by acquiring two production facilities located in Schmitten, Switzerland, and Buxtehude, Germany, Covestro has strengthened its global production network and enhanced supply stability within the region.

The acquisition will be financed using Covestro's own cash reserves. This aligns with Covestro's strategy to maintain financial soundness and manage its investment-grade credit rating in a stable manner. The acquisition amount remains undisclosed.

Auke de Dijn, Head of Covestro's Specialty Films business unit, remarked, "This acquisition will be a pivotal turning point in the growth strategy of our specialty films business." He continued, "Through collaboration with Pontacol, we will further enhance our product development capabilities and provide a broader and more differentiated range of solutions to our global customers." He also said, "With around 100 skilled employees joining us, we expect to create significant synergies for our continued growth going forward."