Cosco became the largest shareholder in the joint venture DCP and continued to expand its TPU business

Cosmos continues to accelerate its expansion of its thermoplastic polyurethane business by increasing its stake in joint venture DIC Coxtro Polymers Ltd. (DCP) from 50% to 80%. When DCP was established in 2000, the portfolio was 50/50 and was a leading company in the thermoplastic polyurethane industry in Japan. The investment is part of Cosmodros' expansion of its global thermoplastic polyurethane business
china
. The total investment is tens of millions of euros. Both sides agreed not to disclose further financial details about the deal. The transaction is expected to close in the second quarter of 2019, as approval from the relevant authorities is required.
Dr Markus Steilemann, chief executive of Cosco Ventures, said: "Given the strong and long-term partnership between the two companies and our full understanding of the potential for future growth, this acquisition is an appropriate step in Cosco's commitment to a sustainable growth strategy to drive innovation. Cosmos
a leading supplier of high-performance resins and one of the world's top three producers of thermoplastic polyurethanes. Thermoplastic polyurethane is part of the Coatings, Adhesives and Specialty Products (CAS) division, which accounts for about 10% of sales in fiscal 2017. It is estimated that the global thermoplastic polyurethane industry has grown at an average long-term rate of 6%, while Cosco Has exceeded the industry's average annual growth rate over the past three years at double-digit core business volumes.
continue to work together to develop unique products and research and development capabilities
DIC will continue to support the success of Cosco Polymers Limited (DCP) with its industrial network, strong brand and reliable local partners. DCP production and research and development will continue at its plant in Osaka Prefecture, and DIC supports DCP by supplying raw materials and on-site services. DIC is also an important partner of Cosco in other coatings, adhesives and specialty products. The acquisition complements Cosco's recent expansion of global organic production capacity at its thermoplastic polyurethane bases in New Martinsville (U.S.) and Changhua (Taiwan), increasing the annual production capacity of their thermoplastic polyurethanes by approximately 25 percent, respectively.
' unique local capabilities and Cosco's global network will form a strong combination," said Kimiyasu Yonemaru, president of Cosco Japan. A differentiated product portfolio is ideal for us to grow in more resilient and profitable businesses. This shows Cosco's clear interest in the Japanese market. The
about DIC Coscon Polymers Limited (DCP)
DCP was established in June 2000 as a joint venture between Dayippon Ink and Chemicals Inc. (now DIC) and Bayer Ltd. (DCP's stake was later transferred to Bayer MaterialScience Co., Ltd., now CoscoTron Japan Co., Ltd.) DCP is Japan's leading TPU supplier, offering unique and extensive TPU specialty products and TPU brands such as PANDEX®, Desmopan ® and Texin ®. TPU has a wide variety, outstanding versatility and so on, in the automotive, electrical appliances, IT, health care, sports and many other fields have a wide range of applications.