Covestro : becomes sole owner of Japan Fine Coatings Co., Ltd.

As of January 14, 2022, Covestro is now the sole owner of Japan Fine Coatings Co., Ltd. (JFC), previously managed as a joint venture (JV) with JSR Corporation (JSR). JFC is one of the leading suppliers of optical fiber coatings based in Tsukuba, Japan. Covestro previously held 70 percent and JSR 30 percent of the JV shares. With a purchase price in the mid-single-digit million euro range, Covestro has now purchased JSR's 30 percent stake to become the company's sole owner.

With the transaction, Covestro further strengthens its position in the attractive field for fiber optical coatings. "The Covestro Coatings & Adhesives business already has an outstanding position in the field of fiber optical coatings. By fully purchasing JFC, we can now develop the business independently," explains Thorsten Dreier, Head of the business entity Coatings & Adhesives at Covestro. "The market segment has tremendous growth potential, especially due to the roll-out of future 5G technology."