EAST PROVIDENCE – A 67,800-square-foot industrial building that was built in 1969 recently sold for $5.40 million, according to public records.
The 199 Amaral St. property, which includes 4.4 acres of land, was sold by Covestro LLC, a limited liability company based in Pittsburgh, which specializes in manufacturing, marketing and selling a variety of polymer-related products. Covestro, formerly Bayer Polymers LLC, has operated in Rhode Island for about 23 years, purchasing the previous occupant of the Amaral Street site, DSM Coating Resins, in 2021.
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The one-story brick industrial building on Amaral Street was purchased by Lamberti U.S.A. Inc., the American subsidiary of an international chemical manufacturing company based in Gallarate, Italy. Lamberti was founded in Italy in 1911, producing auxiliary chemicals for dyeing and finishing to serve the local textile industry.
The East Providence industrial property is now being used as Lamberti’s U.S. manufacturing site, according to the company’s website.
Lamberti announced the agreement to buy the East Providence property in late April, but the property sale was made official with the East Providence City Clerk with a warranty deed that was recorded in mid-August.
“This acquisition represents a significant step forward for Lamberti, enhancing our position in the PUD [polyurethane dispersions] technology,” said Patrick Balletto, chief operating officer of Lamberti. “It marks a strategic milestone, establishing a local production presence in the United States. This ensures greater proximity to our customers, a more resilient supply chain, and a tailored response to the needs of the surface treatment market. “
Lamberti said the sale will preserve the jobs of the 199 Amaral St. facility’s employees. The sale included the real estate, equipment and products produced at the site, according to Lamberti.
“The strategic decision to sell the East Providence facility helps streamline Covestro’s operations while ensuring the site’s employees and customers are supported,” said Martin Vlak, Covestro’s head of coatings and adhesives for North America. “The commitment of the Lamberti team represents an exciting new chapter for the site.”
The 199 Amaral St. site was most recently valued by East Providence assessors in fiscal year 2025 as being worth a total of $4.06 million, according to the city’s online property tax evaluation database. The property’s land alone was valued to be worth $1.14 million, according to the online database.
Marc Larocque is a PBN contributor. Contact him at Larocque@PBN.com. You may also follow him on Twitter @Marc_La_Rock.
