# Covestro increases stake in DIC Polymers to 80% to expand TPU business

Covestro increased its shareholding in Japanese joint venture DIC Polymers GmbH from 50% to 80%, aiming to accelerate its TPU business expansion. The investment is tens of millions of euros, expected to close in early Q2 2019.

- Type: Acquisition
- Announced: 2023-08-31
- Where: Sakai City, Osaka Prefecture, Japan
- Status: announced
- Products: thermoplastic polyurethane (TPU)
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (acquirer)
- [DIC Corporation](https://endata.com/companies/19672.md) (target)
- [DIC Polymers GmbH](https://endata.com/companies/72357.md) (target)

## Sources

- [51dmapa.com](https://www.51dmapa.com/covestro-becomes-the-largest-shareholder-of-japanese-joint-venture-dic-to-expand-its-tpu-business/), 2023-08-31: "Our two companies have established a strong and long-term cooperation relationship, and we have a deep understanding of future growth potential, which makes this share acquisition suitable for Covestro."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.