Covestro has successfully sold its polycarbonate sheet business in Sheffield (USA) to Plaskolite. Acrylic board maker Plaskolite will continue to operate at the facility, which had sales of approximately $ 170 million in 2017.
The sale of the polycarbonate sheet business is part of Covestro's optimization of its company portfolio. After a comprehensive assessment, the company decided that in the long run, the sheet business would not fit its strategy in the polycarbonate division. In addition to selling the polycarbonate sheet business in the United States, the company is also selling its polycarbonate sheet business in India. The company's polycarbonate sheet plant in Guangdong, China is also being transformed into special film production.
After agreeing that Plaskolite can make its US polycarbonate business better and grow, the company announced in March 2018 that it has signed an asset agreement with Plaskolite.