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48 Current news of covestrorss
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Covestro continues portfolio optimization
Covestro has signed an agreement with H.I.G. Capital (“H.I.G.”) for the sale of Covestro’s European Systems Houses business. H.I.G. focuses on investments in small and mid-sized companies. The sales proceeds amount to a high-double-digit euro million sum. The decision to sell the systems houses ...
Results influenced by challenging environment as expected
As expected, higher competitive pressure influenced the first quarter 2019 results of DAX-listed Covestro. Despite an overall solid demand, core volumes decreased slightly by 1.8%, mainly due to lower volumes in the Polycarbonates segment. A marked drop in selling prices led to a reduction in ...
2019 guidance influenced by further volume growth and lower margins
Covestro generated strong results in 2018 while challenges mounted throughout the year. Core volumes increased 1.6%, and Group sales rose by 3.4% to EUR 14.6 billion. After a weaker fourth quarter, Covestro could not achieve earnings at the previous year’s levels, which were marked by an ...
Comprehensive analysis of Chinese founders’ landscape
The vast Chinese start-up ecosystem is a new field of engagement for the materials manufacturer Covestro. For this reason, the company, together with the market research consultants of ‘KAIROS Future’, facilitated a new, comprehensive study of the broad landscape that has developed over recent ...
Cost savings targeted at EUR 350 million per year
Covestro continued its positive business performance in 2018 with a solid third quarter in an increasingly challenging market environment. Group sales grew by 4.8% to EUR 3.7 billion over the same quarter in 2017 thanks to higher selling prices and volumes sold. Core volumes were up marginally by ...
Covestro accelerates its investment activities to capitalize on the strong MDI market growth. The Supervisory Board of Covestro has approved an investment of around EUR 1.5 billion to build a new world-scale MDI plant in Baytown, USA. This investment at the existing site in Baytown is the largest ...
Future of chemicals and data solutions in scope
Covestro is tapping further into the fast evolving start-up economy. The materials manufacturer is collaborating with Plug and Play to explore opportunities in materials innovation and digitalization. Silicon Valley-based Plug and Play is among the world’s largest start-up accelerator and ...
Group sales and EBITDA up significantly in the first quarter
With a successful start to 2018, materials manufacturer Covestro continues its strong growth. Thanks to ongoing robust demand and higher prices, sales rose by 5.4% to EUR 3.8 billion in the first quarter. The main sales drivers were the Polyurethanes and Polycarbonates segments. Core volumes ...
Patrick Thomas retires on May 31, 2018, by mutual agreement
The Supervisory Board of Covestro has agreed on an amicable retirement of Patrick Thomas’ tenure as Chief Executive Officer (CEO) effective May 31, 2018. Patrick Thomas contract as CEO would have originally ended on September 30, 2018. Already in May 2017, Patrick Thomas had informed the ...
Plaskolite announced that it is acquiring the North American polycarbonate sheet manufacturing business of Covestro. The acquisition transforms the North American sheet industry by combining the leader in acrylic manufacturing and the leader in polycarbonate manufacturing. As a part of the ...