Covestro, Haier extends global strategic cooperation agreement

Covestro, Haier extends global strategic cooperation agreement

4:28 AM, 31st October 2017
Wu Yong, general manager China Refrigeration Industry of Haier Group (left), and Daniel Meyer, global head of the polyurethanes segment at Covestro, are looking forward to their future global cooperat
Wu Yong, general manager China Refrigeration Industry of Haier Group (left), and Daniel Meyer, global head of the polyurethanes segment at Covestro, are looking forward to their future global cooperation.

LEVERKUSEN, GERMANY/ QINGDAO, CHINA: Covestro AG and Haier Group Corporation have signed a cooperation agreement on the expansion of their decade-long partnership to a global scale.

The new partnership will enable the two parties to constantly develop advanced products featuring the latest material solutions to address the market demands of the global home appliances industry.

Jointly generating long-term growth

With its innovative developments, Covestro offers answers to current trends in the appliance industry and to customer insights. The company is well positioned to assist Haier in developing new high-performance applications. This is further supported by Covestro´s long-established worldwide production and R&D network.

In return, Haier’s global sales network will provide opportunities for Covestro’s innovative material solutions to be adopted in major markets, including Asia Pacific, the United States and Europe. By that, both companies want to grow in the long term.

Key role of energy-efficient insulation system

Two years later, both parties began to organize a series of technical exchange events. At one of these activities, Haier´s Technology Innovation Day in 2014, Covestro’s Baytherm Microcell project was selected as one of Haier’s key projects. It further improves the thermal insulation performance of household refrigerators, compared to polyurethane rigid foam used so far, and fulfils the improved energy efficiency standards set by the Chinese government. Besides that, this new technology requires no further investment and enables faster production with less material consumption.

“Covestro is committed to exploring advanced technology to empower Haier and the household appliances industry globally. This year, while we celebrate the 80th anniversary of the invention of polyurethanes, we also strive to lead the upgrading of global insulation technology development and broaden the global strategic cooperation by leveraging our expertise in innovation and global network,” said Daniel Meyer, global head of Covestro’s polyurethanes segment.

“The extended partnership with Covestro will support our worldwide business strategy. By utilizing the latest material solutions in our products in different regions we will meet the upgrading needs of global consumers, as well as taking a leading role among Chinese companies going global.” Only last year, Haier has acquired its US-based competitor GE Appliance,” said Wu Yong, general manager China Refrigeration Industry of Haier Group.

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