Companies agree on production of key basic chemicals

23-Jan-2023

Chemical companies Covestro and LANXESS are cooperating in the energy-intensive production of basic chemicals at their Lower Rhine sites in Germany and make them more climate friendly. LANXESS sources chlorine, caustic soda and hydrogen from the ISCC PLUS-certified sites of Covestro in Leverkusen ...

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Progress in extracting chemicals from plants

05-Dec-2022

Covestro is expanding its competencies in industrial biotechnology. The plastics manufacturer intends to make increasing use of microorganisms and enzymes to make its products and processes even more sustainable. In particular, new recycling processes based on biotechnology are also to be ...

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13-Jun-2022

Dr. 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 ...

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Reduced earnings outlook for 2022

05-May-2022

Covestro has had a successful start to fiscal year 2022 and benefited from continuing buoyant demand in the first three months of this year. The Group’s sales increased by 41.6percent, compared with the prior-year quarter, to EUR4.7billion (previous year: EUR 3.3billion), in particular off ...

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Breakthrough for HMDA, widely-used ingredient, paves the way for more sustainable coatings, apparel, adhesives and plastics

21-Jan-2022

Material manufacturer Covestro and biotechnology pioneer Genomatica announced an important industry milestone to advance sustainability resulting from their partnership. The two companies have teamed to be the first to successfully produce significant volumes of a plant-based version of the ...

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Carbon-containing gases from steel production as a source of raw materials: Covestro starts up mini-plant

14-Jul-2021

On the path to climate neutrality, the development of new raw material sources is of central importance. The Carbon2Chem project is investigating, among other things, where cross-sector networking between the steel and chemical industries is possible. The German government is funding the project ...

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Acquisition adds EUR 1 billion in revenues and EUR 141 million EBITDA

02-Oct-2020

Covestro has signed an agreement to acquire the Resins & Functional Materials business (RFM) from Royal DSM. By expanding its portfolio in the attractive growth market for sustainable coating resins, Covestro is taking a significant step in its long-term corporate strategy to strengthen its ...

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Five focus areas: Biotech, 3D printing, digitalization, circularity and new markets

02-Mar-2020

Covestro is a start-up investor: With its Covestro Venture Capital (COVeC) approach, the company seeks to combine the needs of start-ups in areas such as financing, expertise and network with its own strategic goals with the goal of ensuring long-term sustainable development. “We are committed to ...

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21-Feb-2020

Covestro has achieved its targets in a challenging market environment in fiscal 2019. Core volumes increased by 2.0% compared to the previous year. Group sales fell by 15.1% to approximately EUR 12.4 billion as selling prices remained low due to increased competitive pressure in all segments. ...

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New circular economy program launched

29-Oct-2019

In the third quarter of 2019 Covestro was able to achieve core volume growth of 5.3% over the prior-year period in a continuing challenging economic environment. At the same time, Group sales declined as expected by 14.6% to EUR 3.2 billion due to continued lower selling prices. At EUR 425 ...

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