Covestro completes acquisition of Pontacol

 

Pontacol building (source: Pontacol)     

       Covestro completed the acquisition of Pontacol announced in June on 28 August. With it, the company is expanding its films business to add highly specialised flat and blown films, products which strategically complement its existing portfolio. These new products strengthening Covestro’s Solutions & Specialties segment, opening up growth opportunities, particularly in new markets such as medical technology, mobility and the textile industry, where global demand for functional films is rising.

As part of the transaction, 2 specialised production sites in Switzerland and Germany will be transferred to Covestro. These facilities strengthen both the company’s global manufacturing network and the regional availability of adhesive films.

The purchase price has not been disclosed. The financing will be through cash and is thus aligned with Covestro’s goal of maintaining a solid investment-grade rating. 

“The acquisition of Pontacol is strategically sound and financially attractive,” commented Christian Baier, Chief Financial Officer of Covestro. “We are gaining a profitable company with significant growth potential and relevant synergy effects. This allows us to strategically expand our production capacities for multilayer adhesive films in Europe, combine our innovative strength, and develop new markets. As a result, we can offer our customers even more powerful solutions, increase our competitiveness, and grow sustainably.” 

“This acquisition is an important milestone in our Specialty Films growth strategy,” says Aukje Doornbos, Head of Business Entity Specialty Films at Covestro. “In recent years, we have already made large investments in expanding our global capacities. With Pontacol, we can strengthen our product development and expand our global offering for our customers. We are particularly looking forward to the approximately 100 experienced employees who will make a valuable contribution to our further growth with their expertise.”

about Pontacol
Pontacol, based in Schmitten, Switzerland, with a subsidiary in Buxtehude, Germany, is a leading competence centre for thermoplastic adhesive films. With over 50 years of experience, the company specialises in the production of ultra-thin adhesive films for industrial applications. These adhesive films bond parts and coat surfaces. The adhesive films marketed by Pontacol worldwide are used in applications such as automotive, textiles, composites, electronics and ballistic protection. Pontacol employs a total of 100 people.