German materials supplier Covestro AG and Chinese white goods brand Haier Group Corp. have signed a strategic cooperation in Qingdao, China, to develop new products featuring modern material solutions.
Leverkusen-based Covestro announced 30 Oct that the agreement will build on their “decades-long partnership” and expand it to a global scale.
“Covestro is committed to exploring advanced technology to empower Haier and the household appliances industry globally,” said Daniel Meyer, global head of Covestro’s polyurethanes segment.
Also commenting on the agreement, Wu Yong, general manager China Refrigeration Industry of Haier Group said the company had entered a “fifth strategic phase - networking”.
“We aim at building up a programme for co-creation and win-win partnership,” said Wu.
The two companies started their partnership in 1984 when Covestro, previously Bayer, began supplying raw materials to Haier for the thermal insulation of refrigerators.
In 2006, Haier became one of the first clients of MDI from Covestro’s integrated site in Shanghai later bought started purchasing Covestro’s polyurethane systems in 2008.