Solvay and LPW: Exchange of business units
Surface foils manufacturer Cova Products is part of an exchange of companies between Solvay of Belgium and Langbein-Pfanhauser Werke (LPW) of Germany.
Solvay is planning to buy Cova from LPW, while LPW takes over Solvay’s decoration business, which is operated through companies including Alkor Deco (Germany), Venilia (France), Veninov (France), Boekelo Folien (The Netherlands) and their commercial subsidiaries. The deal is scheduled to be concluded by the end of July.
Cova Products makes laminates which are used as coatings for furniture, electric appliances, leisure equipment, window frames etc under the Cova trademark. Sales last year were EUR 36 million with a total staff of approx. 240.