With the APAC region occupying a considerable position in it’s business plans, Covestro, a manufacturer of high-tech polymer materials and innovative product solutions, has appointed Connell Brother as its channel partner at Bangladesh to further its reach and market share in the country. The announcement is scheduled to be made during a joint event conducted by Covestro & Connell and Covestro AG on 22 March 2017 at Le Méridien Dhaka.
After the successful completion of one year since its independence from the parent company - Bayer, Covestro continues to fortify its position in the global coatings and adhesives market.
For the past few years, Covestro has witnessed profitable growth in its coating and adhesive business and Bangladesh enjoys a position of strategic importance in this region. It is the fastest growing economy and offers major growth opportunities in the footwear, wood furniture, and construction markets. Bangladesh also stands as one of the major export hubs for footwear and is growing at an exponential rate.
Commenting on the development, Dr. Kumar Iyer, Head Commercial Operations- BU Coatings, Adhesives & Specialties, India Sub-continent said, “Footwear is an increasingly important application in the Bangladesh market, especially our adhesives for the sports shoes and leather footwear markets. The local formulation development will be well supported by the technical centre at Mumbai, India. In addition, Our Innovation centre based in Shanghai, China will help in developing new PU products by listening to the market and providing solutions meeting the customer requirement”.
“This partnership with Connell Brothers will help us to serve our customers by bring value added PU coatings and adhesive solutions to market at a faster pace.”,” he added.
Founded in 1898 in Washington, Connell Brothers (CBC) has a rich history tracing over 100 years in speciality chemical sales and distribution. It has strong footholds in Asia Pacific through its extensive distribution networks and is a well established brand in Bangladesh for various industry segments since 2006. Covestro & Connell Brothers will support coating and adhesives customers by providing tailored products and services addressing the need for higher performance, efficiency and sustainability.
About Covestro India
Covestro India is renowned manufacturer of high-tech polymer materials and innovative product solutions for key industries.
Headquartered in Navi Mumbai, the company caters to key industry segments such as Automotives, Construction and Electro & Electronics through its pan India distribution network. The company is very well established in India with three manufacturing facilities across the country at Greater Noida, Ankleshwar and Cuddalore.
Covestro with its innovative products and solutions is commited to work towards the principle of sustainability.
About Covestro AG
With 2016 sales of EUR 11.9 billion, Covestro is among the world’s largest polymer producers. 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, electrical and electronics, construction and the sports and leisure industries. Covestro has 30 production sites around the globe and as of December 31, 2016, employed approximately 15,600 people
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.