Covestro (Leverkusen / Germany; www.covestro.com) completed the sale of its European polycarbonate sheets business to Germany’s Serafin (Munich; www.serafin-gruppe.de) on 2 January 2020 – see Plasteurope.com of 20.09.2019. The sale included key management and sales functions throughout Europe as well as production sites in Tielt / Belgium and Nera Montoro / Italy.

The business will now operate as Exolon Group (www.exolongroup.com) with administrative offices based in Pulheim / Germany. The newly formed firm said it will continue to focus on producing and selling high-quality solid and multiwall sheets, adding that as an independent company, it will be able to fully exploit its growth potential in the future. Covestro will continue to supply raw materials to Exolon for the “foreseeable future”.

The transaction completes Covestro’s exit from the PC sheets business, having already divested businesses in North America and India and converted its site in Guangzhou, Guangdong / China to produce speciality films – see Plasteurope.com of 28.03.2018.