As part of its ongoing, Group-wide portfolio optimization efforts, in the future Covestro will increasingly focus the Engineering Plastics business entity on its core business. As a result, the Maezio product line with highly specialized fiber-reinforced composites and the associated production at the Markt Bibart...
Markus Steilemann will remain Chief Executive Officer of Covestro for a further five years. The Supervisory Board has extended his contract, which runs until May 2023, until May 31, 2028. Steilemann has been a member of the Covestro Board of Management since September 2015 and its Chief Executive Officer since June 2018...
For the first time Covestro takes part in Fuorisalone, the Design Week which is taking place in Milan from June 6 to 12. The world of design is currently undergoing a major transformation: in addition to functional and aesthetic aspects, the focus on the circular economy is becoming increasingly important. This...
To addresses the growing demand for its high-performance elastomers and serve an ever wider range of very demanding applications, Covestro launches the production of Desmodur 15 prepolymers at its Spanish site of Barcelona. Combining the highest mechanical characteristics with dynamic load-bearing capacity...
Plastics Europe announced the appointment of Marco ten Bruggencate, Commercial Vice President for Packaging and Specialty Plastics Emea at Dow, as its President. He succeeds Markus Steilemann, CEO of Covestro. In this new role, Marco ten Bruggencate will continue to drive Plastics Europe’s and...
Shareholders approved all the resolutions proposed by the Board of Management and Supervisory Board by the required majority at Covestro Annual General Meeting on April 21, 2022. The actions of Covestro’s Board of Management and Supervisory Board were ratified. As in the past two years, the Annual General Meeting was...
Covestro had a successful fiscal year 2021. The Group benefited from strong global demand and buoyant earnings in the year as a whole. Core volumes sold increased by 10% year on year, mainly due to additional volumes from the Resins & Functional Materials (RFM) business acquired from DSM. In particular...
Covestro has entered into an agreement with Mitsui Chemicals on the supply of raw materials phenol and acetone from Iscc Plus certified mass-balanced sources. Both components will be used for the production of polycarbonate at Covestro's Asian sites in Shanghai (China) and Map Ta Phut (Thailand). The high-performance plastic is...
Subsidiary of Maire Tecnimont, Tecnimont has been awarded an engineering, procurement and construction (EPC) contract by Covestro for a new aniline plant in Antwerp, Belgium. The project will realize a substantial additional aniline production capacity to the existing Covestro site in Antwerp...
Covestro recorded a strong third quarter of 2021, which saw a continuation of the high earnings momentum from the first half of the year. Since demand remained strong, high selling prices meant that sales increased by 55.9 percent to around 4.3 billion euros (previous year: around 2.8 billion euros). The core volumes...
Covestro has restructured its organization effective July 1, 2021, and successfully reorganized its previously three segments - Polyurethanes, Polycarbonates, and Coatings, Adhesives, Specialties - into seven new, tailored business entities. The company has thus achieved a first milestone in implementing its new “Sustainable Future” strategy...
Materials manufacturer Covestro introduces its first material developed by the additive manufacturing business recently acquired from DSM: a glass-fiber filled recycled polyethylene terephthalate (rPET) for 3D pellet printing. Made from post-consumer PET waste, Arnite AM2001 GF (G) rPET perfectly fits Covestro's vision for a...
Covestro continues on its trajectory for increased growth. Demand has continued to rebound in the first quarter of 2021 and has led to a significant upturn in business performance. As a result, core volume growth was up 5.3% compared to last year’s first quarter. This is attributable mainly to a strong rebound in demand in the...
On April 1, 2021, Covestro completed the acquisition of the RFM (Resins & Functional Materials) business from the Dutch company DSM. The transaction received regulatory approval after Covestro and DSM signed an acquisition agreement in late September 2020. The transaction substantially expands Covestro’s portfolio of sustainable coating...
Covestro saw a strong end to an exceptional year in 2020 and benefited, especially in the second half, from its consistent crisis prevention measures and a recovery in demand. Despite the very successful fourth quarter, the Group could not fully compensate the massive, pandemic-related cut-backs that arose in the first six months...
In the third quarter of 2020, Covestro increased core volumes by 3.0% year-on-year as the result of a significant improvement in demand. This development was largely driven by volume growth in the Asia-Pacific region, particularly in China. At the same time, Group sales were down by 12.7% to around 2.8 billion euros due to lower selling prices. As...
Covestro has developed an innovative automotive headlight concept for the vehicle lighting of tomorrow. The visionary approach is based on different types of the polycarbonate Makrolon and addresses the high demands in terms of functionality and aesthetics. Compared with conventional solutions, the new modular design makes do with...
