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Covestro employees become founders

Up to one million euros for the establishment of an internal start-up

01-Mar-2018

An outstanding idea: It’s a newly developed technology, coaters should be able to work faster and more efficiently, especially in the automobile industry. The winning team Marc Schreiber, Anna-Leona Breidbach, Axel Schmidt and Holger Mundstock, all employees of Covestro, convinced the Board ...

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Covestro continues its profitable growth path with a record year

Net income more than doubled to EUR 2.0 billion

21-Feb-2018

Covestro had an outstanding fiscal year 2017. Driven by a high demand for high-performance plastics and significantly higher margins, Covestro increased Group sales by 18.8% to EUR 14.1 billion over the past fiscal year. This was accompanied by an increase in EBITDA at Group level for the year as ...

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Covestro renews contract with CTO

11-Jan-2018

The Supervisory Board of Covestro AG has extended the contract of Board of Management member Dr. Klaus Schäfer by five years until the end of 2022 on January 1, 2018. Schäfer has been a member of the Board of Management of Covestro AG since the going public in 2015. As Chief Technology Officer ...

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Covestro continues production at Tarragona site

Investment of around EUR 200 million

12-Dec-2017

Covestro announced that it will continue production in Tarragona (Spain) beyond 2020. The company will invest around EUR 200 million to increase the cost competitiveness at the site by implementing various measures. As a first step, it intends to build its own chlorine supply, thus ensuring a ...

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Covestro strengthens its Board of Management

Dr. Thomas Toepfer to be new Chief Financial Officer of Covestro

28-Nov-2017

Covestro’s Supervisory Board unanimously appointed Dr. Thomas Toepfer (45) as the company’s new Chief Financial Officer (CFO). He will take over the position from Patrick Thomas on April 1, 2018. Since June 2017, Patrick Thomas has been interim CFO in addition to his function as CEO. Dr. ...

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Covestro expands global capacity for polyurethane dispersions

New facilities in Dormagen and Barcelona

07-Nov-2017

Covestro has begun operations at a new production facility for aqueous polyurethane dispersions (PUDs) at its Dormagen site. Along with a current expansion of production in Barcelona, the company is thus boosting its capacities in Europe significantly. In order to meet global demand, Covestro is ...

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New digital chemicals trading platform: Covestro hopes to generate billions in turnover

Materials manufacturer wants to launch a new form of online commerce

06-Nov-2017

Covestro is pursuing a comprehensive strategic program to seize the opportunities of digitization and set new standards in collaborating with customers. To do so, the materials manufacturer is anchoring digital technologies and operating procedures on central levels: in production, supply chain, ...

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Great interest in million-euro idea

Covestro funds best employee start-up team

06-Nov-2017

An in-house competition at Covestro to find and fund the best business idea has met with a great response. Employees of the materials manufacturer around the globe have submitted around 600 projects and the top six teams are now preparing for next year’s grand final. The aim of Covestro’s ...

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Covestro raises the bar and announces share buyback

Strongest quarter in company’s history

24-Oct-2017

Covestro delivered the strongest quarter in the company’s history in the third quarter of 2017 as the positive trend of the first six months carried on. At EUR 491 million, net income was up 89.6% on the prior-year quarter. At the same time, EBITDA was 50.2% higher, and sales rose 16.9% over the ...

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Covestro wins the German Chemistry Award 2017

Strong signal from the workforce

20-Oct-2017

During a festive gala, Covestro was presented with the German Chemistry Award 2017 last night by the VAA, the Managerial Association of the Chemical Industry. Dr. Klaus Schäfer, member of the Board of Management at Covestro AG, accepted the award in his function as Labor Director from Rainer ...

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