Serafin backs Covestro carve-out

The carve-out includes manufacturing units in Belgium and Italy, and management operations and sales support offices across Europe. The carved-out division generated sales of €130m in 2018 and employed 250 people.

Covestro said the decision was part of its ongoing portfolio optimisation process. The company also sold its polyurethane systems business to HIG Capital earlier in the year.

Serafin said it will retain all 250 employees and will strengthen the company as a mid-sized business with strong customer orientation.

Company
Covestro is among the world's largest polymer companies; the entire group generated sales of €14.6bn in 2018.

The carved-out division makes polycarbonate sheets for industrial protection, construction and signage businesses.

People
Serafin Group – Falk Daum (founder).

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