The deal for portions of the Covestro business includes both commercial and production operations based in Spring, Texas. The facility serves North America as a producer of SPF, which is often used as insulation and roofing material for the construction industry.
The divesture of the SPF business will allow Covestro to focus on its core assets such as polymers and high performance plastics, according to Covestro president Jerry MacCleary.
Accella is also a manufacturer of custom polyurethane systems, spray foams, tire fillings, and rubber technology. The buyer’s polyurethane business is focused on foams, binders, coatings, adhesives, sealants and elastomers.
The deal for Covestro is expected close in the second quarter of 2017.