Covestro increases stake in Japanese TPU joint venture

Leverkusen, Germany – Covestro AG has raised its stake in the Japanese thermoplastic polyurethane (TPU) joint venture DIC Covestro Polymer Ltd (DCP), from 50 to 80%.

In a 29 Nov statement, the German polymer company said the move was part of an expansion plan for its TPU business.

The deal complements Covestro’s recent capacity expansions of TPU sites in New Martinsville, the US, and Changhua in Taiwan, which raise annual production capacities by 25% at each site.

DCP was established in 2000 as a 50:50 joint venture between…

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