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Wednesday - May 6, 2020

Covestro and Teknor Apex announce a cooperation agreement on compounding TPU

Products to be marketed under the name Desmoflex®

Materials manufacturer Covestro and global plastics compounder Teknor Apex intend to cooperate closely on compounding thermoplastic polyurethane (TPU) and have signed a cooperation agreement to this effect. TPU is an extremely versatile plastic, which Covestro has been producing in pure form for many years for use in various industry sectors. Through compounding, i.e. mixing with other materials, the array of achievable properties can be increased considerably further. This is a particular strength of Teknor Apex.

“We are happy to team-up with such a competent and complementary partner for processing TPU on a global scale,” says Dr. Thorsten Dreier, the new global head of the TPU business at Covestro. “Together with Teknor Apex, we want to develop customized products to grow together with our existing and new customers.” Covestro supports the marketing of the jointly developed products by Teknor Apex with its Desmoflex® brand.

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“We are excited to become Covestro’s preferred global compounding partner. The combination of Covestro’s expertise in TPU resin with Teknor Apex’s custom formulation and compounding capabilities provide a compelling value driver for our combined customers worldwide,” says Sachin Sakhalkar, Vice President, TPE Division, at Teknor Apex. “This new cooperation strengthens our promise to our customers and partners who depend on us to bring tailored solutions for their application needs.”

Thermoplastic polyurethane (TPU) is used in the automotive industry, in sports and leisure articles, the IT and electronics industry, medical technology and other sectors and can be made with various properties, ranging from soft to hard and from elastic to stiff, depending on customer requirements. All products have in common a high abrasion and wear resistance as well as chemical and weather resistance. The plastic granulate can be processed into profiles, strips, hoses, fibers, films or foams.

Formulating and compounding steps can be used to create an additional value proposition compared to just a neat resin. For instance, specific end-use requirements such as flame retardancy, adhesion, appearance and haptics etc. can be enhanced through specific formulation and compounding techniques.

About Teknor Apex:
The Teknor Apex Company, a privately-owned company founded in 1924, is one of the world’s leading customer-specific plastic compounders. Teknor Apex produces flexible and rigid vinyl, thermoplastic elastomers, nylons, color masterbatches, specialty chemicals and garden hoses. The company is based in Pawtucket, RI, USA. It operates thirteen production plants worldwide: in the United States, Belgium, Germany, China and Singapore. More information can be found at www.teknorapex.com.

About Covestro:
With 2019 sales of EUR 12.4 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 17,200 people (calculated as full-time equivalents) at the end of 2019.

Find more information at www.covestro.com.
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Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.