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…

Monique Buch appointed as new Chief Commercial Officer of Covestro

Covestro to invest in Pilot Plant for Recycling of Elastomers

Pilot plant will be built in Leverkusen, Germany  Novel chemical recycling process for elastomers made of Vulkollan®  Technology offers recycling solution and additional carbon footprint reduction for high performance elastomers

Covestro and Deloitte jointly develop Monetization Framework for Circular Economy

Developing and implementing business models in the circular economy  Monetization approach for circular solutions developed together with Deloitte, structured basic framework established  Framework validated through pilot projects, scalable across i…

Board of Management and Supervisory Board of Covestro AG support ADNOC International’s public takeover offer

Offer price of €62.00 per share in cash, representing an attractive premium of 54 percent to the unaffected share price of Covestro  Board of Management and Supervisory Board recommend to Covestro’s shareholders to accept the offer  ADNOC Internatio…

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…

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 ‘Sustainab…

Rebounding volumes in a challenging environment

Group sales stable at EUR 3.7 billion (–0.8%)  EBITDA within expectations at EUR 320 million (–16.9%)  Group result at EUR –72 million  Free operating cash flow at EUR –147 million  Guidance for 2024 fiscal year: EBITDA between EUR 1 billion and EUR…

Covestro and bp sign long-term supply agreement for solar power in Spain

10-year agreement to supply Covestro with renewable energy from a solar power plant in Spain  Contract boosts Covestro’s renewable electricity use in Spain to 30 percent, significantly increasing renewables supply for Tarragona site  The agreement s…

Ensuring competitiveness in a challenging environment

Transformation program STRONG launched  By 2028: EUR 400 million annual savings globally, EUR 190 million of which will be in Germany  Increased efficiency through digitalization and Artificial Intelligence 

Covestro AG enters into concrete negotiations with Adnoc regarding a potential transaction

Covestro becomes a shareholder in company BioBTX

Demonstration plant planned for new chemical recycling methodBioBTX recovers raw materials by recycling plastic wasteCovestro invests mid-single-digit million Euro amount