 "Accella to buy spray polyurethane foam business from Covestro")
Accella Polyurethane Systems Llc has agreed to acquire certain assets of the North American spray polyurethane foam (SPF) business located at Spring, Texas (USA), from Covestro Llc for an undisclosed amount.
“This acquisition will significantly improve Accella’s position in the spray polyurethane foam market and is another strategic step with our positive track record combining the best polyurethane based companies in the industry. The addition of a well-rounded product technology portfolio and a team of highly regarded industry experts will highly complement our current spray polyurethane foam business. Moving forward, Accella intends to focus on investing in and growing our spray foam business to meet the needs of our valued customers with the best people, products and service in the industry,” said Andy Harris, president and CEO of Accella.
Chris Brink, Accella’s VP of Polyurethane Systems, added “SPF is a very important area of business for our company with the value it brings to society. We will continue to raise the position of SPF as the preferred insulation choice in modern residential and commercial construction.”
The Covestro’s Spring facility includes both commercial and production operations, serving North America as a leading producer of spray polyurethane foam, which is used as insulation and roofing in the construction of commercial buildings and residential homes.
“The accomplishments of Covestro’s spray polyurethane foam team cannot be overstated. Both technically and commercially, their contributions have helped grow spray polyurethane foam as a technology in the construction market. This divestiture will allow us to focus on our core business while ensuring our spray polyurethane foam employees can continue to shape the industry as a part of Accella,” opined Jerry MacCleary, president of Covestro Llc.
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