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Corporate News
ADNOC takeover offer for Covestro successful
ADNOC International, now XRG, achieves total of 91.3 percent after additional acceptance period Covestro supposed to become foundational platform of XRG’s Performance Materials and Specialty Chemicals business Closing of transaction is subject to reg…
Covestro expands production of partially bio-based coatings materials in Asia Pacific
Desmophen® CQ NH contains at least 25 percent bio-based content and is now available in Asia PacificProduced at company’s Foshan site in southern China, powered entirely by renewable energyHigh-performance product finds applications in wind turbine c…
Covestro deepens collaboration with Ausell to advance end-of-life automotive plastics recycling
Joint initiative to build a closed-loop for automotive plastics recyclingPlastics recycled from end-of-life headlamps to be used for new automotive applicationsAddressing rising industry demands and regulations
Increased profits in challenging market environment
Group sales remain stable at EUR 3.6 billion (+1.0%) EBITDA increases to EUR 287 million (+3.6%)Net income reaches EUR 33 million Free Operating Cash Flow is at EUR 112 million (–63.6%) Investment Agreement with ADNOC signed Guidance for 2024 fiscal…
Covestro signs an Investment Agreement with ADNOC and supports ADNOC’s public takeover offer to all Covestro shareholders
ADNOC International Germany Holding AG makes a takeover offer at €62.00 per Covestro share The Investment Agreement defines key aspects of the strategic partnership, including clear commitments by ADNOC International to fully support the ‘Sustainable…
Covestro to collaborate with Li Auto on advanced, sustainable material solutions for Next-Gen vehicles
Joint innovation platform with leading Chinese EV maker intendedFocus on circularity and future-oriented applications with engineering plasticsLaunch of new polycarbonate solutions for smart lighting
2024 Covestro Grandparent-Grandchild Science Camp Launches During Grandparents Appreciation Month
Held on Taiwanese Valentine’s Day (8/10) in Changhua, resumed in Pingtung, and ends on Grandparents Appreciation Day (8/25) in Taipei Co-organizers: Taipei City Department of Education, Changhua County Department of Social Affairs, Pingtung County De…
Registration Now Open for ‘Visible Sound: The Sounds of Wonderland’ Scientific Experiment Kit
The experiments are demonstrated by students from the Covestro Science Club at Taipei School for the Hearing Impaired Registration deadline: Sep. 5th, 2024 The free experiment kits will be shipped by the end of Sep.
Group sales stable at EUR 3.7 billion (–0.8%)EBITDA within expectations at EUR 320 million (–16.9%)Group result at EUR –72 millionFree operating cash flow at EUR –147 millionGuidance for 2024 fiscal year: EBITDA between EUR 1 billion and EUR 1.4 bill…
Covestro teams up with Alibaba Cloud to advance sustainable plastics traceability
Joint solutions to enhance supply chain transparency of sustainable plasticsCarbon accounting and tracing platform empowered by digital technologyProven use case in the consumer goods sector
Tonney develops more sustainable hairdryers with low-carbon materials from Covestro
First commercial application of Covestro’s bio-based waterborne crosslinker in electronics and appliancesRecycled polycarbonate and CMF aesthetic design further contribute to sustainabilityNew hairdryers unveiled at Design Shanghai
Covestro launches Desmopan® FR TPU series for cable jacket solutions
New series meeting stringent regulations and expanding company’s TPU portfolioOffering an optimal balance of fire retardancy and physical performanceAvailable in partially bio-based grades to address sustainability needs, particularly in mobility and…
Theme of the 2024 camp: Grandchild’s WonderlandDesigned by Golden Tripod Award winner Professor Liang-Rong Hsu and his team member Tiffany ChenAims to foster children’s passion for science, bridge the generation gap, and stimulate elders’ mindsCo-org…
Covestro gets off to a solid start in fiscal year 2024
Group sales of EUR 3.5 billion (–6.2%)EBITDA of EUR 273 million (–4.5%) Net income of EUR –35 million (previous year: EUR –26 million) FOCF of EUR –129 million (previous year: EUR –139 million)Guidance for full-year 2024 confirmed Q2 2024: EBITDA bet…
Covestro introduces polycarbonates from recycled, attributed materials for high purity applications
First product from Covestro related to chemically recycled post-consumer waste to answer ELV and EPEAT expectationsJoint development with Neste and BorealisDrop-in solution with identical properties, production and product specifications as fossil-ba…
Covestro and Chaoyang University of Technology Sign CSR Plus USR MOU on Earth Day
Covestro authorizes Chaoyang University of Technology to develop Covestro’s environmental picture book into a vivid, interactive storytelling program for childrenThe MOU signing was witnessed by officials from the German Institute Taipei and the Mini…
APEC® XT: new product line based on polycarbonate copolymers from Covestro
Promising application possibilities in the electrical and electronics industry, healthcare, mobility and photovoltaicsEnhanced properties and functions compared to standard gradesPlastics with mass-balanced and recycled raw materials will also be mad…
Covestro Advocates its Environmentally Friendly Waterborne PU Coatings at the International Technical Textiles Symposium ITTS
· Covestro participated in the symposium as a speaker to introduce the trends in waterborne PU coatings.· INSQIN® provides end customers with environmentally friendly and high-performance coating solutions for sustainable production.
Covestro publishes climate neutrality targets for scope 3 emissions
Reduction of 10 million metric tons of greenhouse gases produced in upstream and downstream supply chains (scope 3) by 2035, climate neutrality for scope 3 by 2050Climate strategy for reducing greenhouse gases completeConcrete plan for implementation…
Transformation consistently advanced in challenging fiscal year
Group sales of EUR 14.4 billion (–20%)EBITDA of EUR 1.1 billion (– 33.2%)Positive free operating cash flow of EUR 232 million (+68.1%)Climate neutrality strategy finalized with scope 3 targetOutlook for 2024: EBITDA between EUR 1.0 and EUR 1.6 billio…
Covestro Works Together with National Parks National Museums and City Governments for a Green Future with The Adventures of Young Guardians- Volume II
Covestro’s “The Adventures of Young Guardians – Volume II” bilingual picture book will be promoted by more than 10 partnersVolume II focuses on the circular economy conceptAn electronic file of the picture book is available for download, enabling pa…
Covestro strengthens partnership with China’s Huafon at key trade expo
Exploring expansion of mass-balanced MDI in Huafon’s portfolioNew agreement follows joint appearances at China International Import Expo in previous years
Covestro returns to the China International Import Expo in Shanghai
Participation in major trade expo for three years in a rowFirst showcase of chemically recycled PU foam in ChinaStrengthening partnerships from mobility to construction for a circular future
Covestro achieves EBITDA guidance for third quarter
Group sales of EUR 3.6 billion (–22.7%)EBITDA of EUR 277 million (–8.3%) meets guidanceNet income of EUR –31 millionFree operating cash flow rises to EUR 308 million (>100%)Full-year guidance narrowed at the lower end of the rangesNew Chief Financial…
Covestro launches mechanical recycling polycarbonate compounding line in China
Shanghai facility is the inaugural dedicated line of its kind of Covestro with an annual capacity of 25,000 tonsCommitted to supplying 60,000 tons of recycled-content polycarbonates annually in Asia Pacific by 2026Expansive range of premium recycled…
Covestro Huafeng and Cyclone Collaborate on More Sustainable Sports Kit
Huafeng developed more sustainable HAPTIC® textile coating solution based on Covestro’s partly bio-based Impranil® CQ DLS/1 PU dispersion New textile coating solution was used to produce official shorts and shoes of Team Sonnenwagen solar car proje…
Covestro’s Zhangbin chemical site reduces energy demand by 7%
The multi-million euro investment in a Direct Fired Thermal Oxidizer (DFTO) took four years and was completed on schedule. The DFTO passed and received the operation permit from local government, enabling the Zhangbin site to reduce Volatile Organic…
Covestro Grandparent-Grandchild Science Camp Makes a Big Comeback After the Pandemic
l The grandparents and grandchildren all felt this camp had created happy memories for them*l Grandchildren all expressed that this camp meant they got to know their grandparents better*l 85% of the grandparents indicated this camp was the firs…
Chemical recycling of polycarbonates reaches a major milestone
Robust process developed on a laboratory scalePilot-scale technical implementation startsRecycled monomer can be used for the production of polycarbonate
Covestro Marks the Tenth Anniversary of the MagicMaterial School
Established in 2014, Covestro MagicMaterial School, which was named a finalist for the 2022 Gartner Communications Award in the category of “Excellence in ESG, Sustainability and DEI Communications”, will mark its tenth anniversary this Fall.
Group Sales of EUR 3.7 billion (–20.9%)EBITDA of EUR 385 million (–29.6%)Net income totals EUR 46 million (–76.9%)Free operating cash flow rises to EUR –10 millionFull-year results expected to be rather at lower half of the guidanceQ3 2023: EBITDA be…
Designed by Golden Tripod Award winner Professor Liang-Rong Hsu, and his team member Tiffany Chen, the camp aims to foster children’s passion for science, bridge the generation gap, and encourage elders to stimulate their minds. Registration deadline…
Covestro inaugurates new production line and launches new Desmopan®UP TPU series for Paint Protection Film in the automotive and wind sector
New production line started in Taiwan to produce high performance TPU suited for Paint Protection Film (PPF) gradesProducts to be made available globallyNew TPU-based PPF solutions offered under Desmopan®UP brand nameLong-lasting protection for autom…
Covestro gets off to better-than-expected start in 2023
Group Sales of EUR 3.7 billionEBITDA of EUR 286 million far surpasses expectationsNet income totals EUR –26 millionFree operating cash flow of EUR –139 millionQ2 2023: EBITDA between EUR 330 million and EUR 430 million expectedFull-year guidance adju…
