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Covestro extends contract with CEO Dr. Markus Steilemann ahead of schedule until 2028

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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Covestro: Successful quarter in an increasingly volatile environment

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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Covestro and Genomatica produce important chemical raw material using biotechnology

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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Cycle for sustainable plastics

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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Covestro to acquire sustainable coating resins business from DSM

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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Covestro invests in start-ups

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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Covestro achieves targets in continuing challenging market environment

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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Covestro generates strong volume growth in a continuing challenging environment

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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Covestro to sell European polycarbonate sheets business

Sale is part of Covestro’s efforts to optimize its portfolio

17-Sep-2019

Covestro has signed an agreement with Serafin Group for the sale of Covestro’s European polycarbonate sheets business, which comprises manufacturing units in Belgium and Italy, central management operations and sales support in Europe. The business generates total revenues of around EUR 130 ...

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Covestro Start-up Challenge enters a new round

Winners of the first Start-up Challenge continue their own venture

08-Jul-2019

This year’s Start-up Challenge at Covestro is now getting down to the facts: The six best international start-up ideas have now been picked and the teams are preparing for the grand final. The winner of the company’s internal contest will be selected at the K 2019 trade fair for plastics and ...

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