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Covestro Completes Sale of U.S. Sheets Business to Plaskolite

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

Covestro successfully closed the sale of its Polycarbonates sheets business in Sheffield, Massachusetts to Plaskolite. Acrylics sheets manufacturer Plaskolite will continue operations at the facility, which generated sales of about $170 million in 2017. 

After a thorough evaluation, the company decided that the sheets business will not be a strategic fit for its Polycarbonates segment in the long run. Besides the sale of the U.S. sheets business, Covestro has also sold its sheets business in India and is transferring its production in Guangzhou, China, into a specialty films site. 

Both companies agreed on a purchase price in the high-double-digit million USD range. 

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