Force majeure after fire in Dormagen (Germany)
On July 12, 2025, there was a fire in an external substation at Chempark Dormagen, which is operated by the chemical site operator Currenta. The fire caused a power failure in parts of the Chempark, which affected, among others, polyurethane dispersion (PUD) and polyether polyol (PET) operations, the chlorine plant, as well as the toluene diisocyanates (TDI) production of Covestro as a downstream customer. Force majeure was declared for deliveries of all relevant product groups from Dormagen. With the exception of PUD and PET, Covestro had not yet canceled the force majeure declarations issued to affected customers as of September 30, 2025. We expect a negative impact on EBITDA in the low triple-digit million euro range for the Covestro Group in fiscal 2025. Of this, an amount in the mid-double-digit million euro range was attributable to the third quarter of 2025.
New Chief Commercial Officer
Monique Buch, who had already been appointed as a new Board of Management member as of June 1, 2025 succeeded Sucheta Govil as Chief Commercial Officer (CCO) as of August 1, 2025. Sucheta Govil had been the company’s CCO since the year 2019. Her two consecutive terms of office at Covestro ended on July 31, 2025.
As CCO, Monique Buch is responsible for the Solutions & Specialties segment, heading six business units in this capacity, including the Supply Chain & Logistics centers in the three regions.
Takeover of Vencorex sites in the United States and Thailand
On August 13, 2025, Covestro signed an agreement with Vencorex Holding SAS, Lyon (France), a subsidiary of the Thailand-based chemical company PTT Global Chemical Public Company Limited, to acquire two companies with standalone production sites for hexamethylene-diisocyanate (HDI) derivatives in Rayong (Thailand) and Freeport, Texas (United States). The companies and production sites had in the past been part of the French aliphatics specialist Vencorex.
This acquisition will strategically expand and improve Covestro’s production network for aliphatic isocyanates in the United States and the APAC region. It signals that the company continues to aim for growth in profitable and innovative business segments such as Coatings & Adhesives, thus pursuing its Sustainable Future corporate strategy. The transaction is expected to be completed no later than the first quarter of 2026.
Takeover of Pontacol AG, Schmitten FR (Switzerland)
Covestro successfully completed the takeover of Pontacol, a Swiss manufacturer of multilayer adhesive films, as of August 28, 2025. The Group had already signed an agreement to this effect on June 23, 2025.
With this acquisition, Covestro expands its films business by adding highly specialized flat and blown films. They will strategically complement the existing business and unlock new growth opportunities – especially in important future markets such as medical technology, mobility, and the textile industry, where global demand for functional films is rising continuously.
Covestro will take over two specialized production sites focusing on different film technologies in Switzerland and Germany with around 100 employees. In doing so, the company will not only strengthen its global production network, but also improve the regional availability of adhesive films. The acquisition will furthermore unlock further potential for Covestro to add value through supplementary technologies, an expanded customer and product portfolio, as well as synergies in central functions and procurement.