Covestro

Ineos and Covestro Announce Landmark LNG Deal

Ineos and Covestro announced a significant long-term agreement for the natural gas supply for up to eight years, starting in 2027.

Covestro to Launch Automated Lab for Coatings and Adhesives Development

New facility will focus on crosslinkers and binders, with the potential to test tens of thousands of formulations per year. Digitalization and automation enable data-driven research and development, while networked robotics allow more efficient data generation for segment-specific application testing.

Global Leaders Launch Innovative Circularity Pilot

The Global Impact Coalition (GIC), a CEO-led collaborative platform originally incubated at the World Economic Forum, launches the world’s first Automotive Plastics Circularity pilot together with seven global leaders in the chemical and recycling industries.

Circular Solutions

The path to a sustainable, net-zero future for the chemical industry is paved with challenges – and also opportunities.

Circular Solutions

The path to a sustainable, net-zero future for the chemical industry is paved with challenges – and also opportunities.

Covestro to Build New TPU Center in China

Covestro will start the construction of a new Thermoplastic Polyurethanes (TPU) APAC Application Development (AD) Center in Guangzhou, China.

Using Chemistry to Create Net-Zero Value Chains

In this interview, Charlie Tan, CEO of the Global Impact Coalition (GIC), explains the initiative’s scope and describes some key activities.

Covestro Completes Construction of New Polyurethane Dispersions Site in Shanghai

Covestro has completed construction on a new production facility for polyurethane dispersions (PUDs) in Shanghai, China.

Covestro Seals first US Renewable Energy Pact

German engineering plastics producer Covestro has signed a 90 megawatt (MW) virtual power purchase agreement (vPPA) with Danish renewables producer Ørsted for its US site at Baytown, Texas.

Covestro Said to Reject ADNOC Buyout Offer

German engineering plastics producer Covestro has rejected an initial takeover proposal from Abu Dhabi National Oil Co (ADNOC) as too low, the Bloomberg news agency reports, citing “people familiar with the matter.”

Lanxess Warns on Earnings as Buyout Talk Circles Covestro

Two former spinoffs from Bayer were competing for headlines on Jun. 19 and 20, as specialty chemicals company Lanxess issued a profit warning amid rumors that Middle East chemicals and energy behemoth Abu Dhabi National Oil Company (ADNOC) had made a takeover offer for engineering plastics producer Covestro.

Covestro to Build its Largest TPU Site in China

German engineering plastics producer Covestro has decided to build its largest-ever thermoplastic polyurethanes (TPU) site at Zhuhai, China.

Covestro Starts Energy-Saving Chlorine Plant in Spain

German engineering plastics producer Covestro has started up a new €200 million chlorine plant at its Tarragona complex in Spain. The company said the new facility will strengthen its 220,000 t/y European network for the key rigid-polyurethane feedstock MDI while reducing energy consumption by up to 25%.

Bill Anderson to Be Bayer CEO from June 1

Bowing to growing pressure from activist investors with different missions, the supervisory board of tradition-steeped German pharmaceuticals and agrochemicals player Bayer has announced the appointment of a new CEO to succeed embattled incumbent Werner Baumann — a year before the end of the current chief executive’s regular term.

Covestro Puts MDI Expansion on Hold Again

Covestro is again putting on hold its previously announced plans to build a new 500,000 t/y plant for polyurethane precursor MDI.

Covestro Builds up Mechanical Reycling in Asia

German engineering plastics producer Covestro is buiilding its first dedicated line for mechanical recycling (MCR) of polycarbonates at its integrated site in Shanghai, China. The new 25,000 t/y facility, which will cost €27 million, is planned to start up in 2023.

Covestro Selling Additive Manufacturing to Stratasys

German engineering plastics producer Covestro has signed a definitive agreement to sell its Additive Manufacturing Business to US 3D printing specialist Stratasys for about €43 million. Closing of the deal is expected for the first quarter of 2023.

Digitalization And Sustainability

In addition to the transformation towards a climate-neutral chemical industry and the perennial topic of digitalization, the current global political situation also poses massive challenges for the process industry. Which technologies can be used to achieve defossilization? How to secure and enhance regional and global supply chain networks? And what hurdles must be overcome in the digitalization of the industry?

Covestro Chief Sees Recession Looming

A recession is headed for Europe that will be deeper and last longer than the financial crisis of 2008, Markus Steilemann, CEO of engineering plastics producer Covestro, predicted in an interview with a German business newspaper.

Neste, Covestro and SK Geo Centric Partner on PU Feedstock

A collaboration between Neste, Covestro and SK Geo Centric aims to use renewable raw materials to produce MDI – a key feedstock for polyurethane production.

Multinational Companies in China’s Chemical Industry

Chemical MNCs show strong verbal commitment to China, but the real situation is somewhat underwhelming.

Lanxess to Carve Out Engineering Plastics Business

German specialty chemicals producer Lanxess has joined the growing list of European and US companies seeking to unload their engineering plastics activities – in one way or another. In a Nov. 11 statement, the Cologne-based player announced plans to spin off its High Performance Materials business into an independent legal entity from January 2022.

Covestro Leads R&D Project for Recycling PU Foam

German engineering plastics producer Covestro is heading up a four-year EU-funded innovation project with 22 partners from nine countries to help erase the industry’s recycling deficits and close the material cycle for rigid polyurethane foam used in refrigerators and building insulation.

A Pivotal Move to Net-Zero

Leading global chemical companies and the World Economic Forum (WEF) have announced that they are entering an agreement to formalize the Low-Carbon Emitting Technologies (LCET) initiative into a stand-alone entity by the end of 2023, to share early-stage risks and co-invest in developing and upscaling low-carbon emitting technologies.

Covestro Planning to Cut 10% of Workforce

German engineering plastics producer Covestro, the former BayerMaterialScience, has surprised both its workforce and the markets with plans unveiled last week to eliminate 10% of the Leverkusen-based company’s jobs. More than half of the job losses would affect its German home market.

DSM Sells Solar Business to Worthen Industries

DSM is selling its Advanced Solar business in backsheet products for solar modules to Worthen Industries, a US-based chemical and technology manufacturer of industrial adhesives & coatings, extruded films and coated substrates. Financial terms of the deal were not disclosed.

CO2-Neutral Chemical Industry

The European Chemical Industry has set out on an ambitious path to become carbon neutral. Germany, as one of the major chemical manufacturing nations, has committed to achieve this goal by 2050.

Expert Statement: Christian Haessler, Covestro

The European Chemical Industry has set out on an ambitious path to become carbon neutral.

Covestro to Take DSM Coatings Resins

In a major move portfolio move, German engineering plastics producer Covestro is taking over DSM’s coating resins business for €1.6 billion, including debt. The transaction is expected to close in the first quarter of 2021, following all approvals.

Circular Economy

The chemical industry is on the threshold of a new era – the age of circularity. We asked industry experts to share their opinions on this transformational topic.

Covestro and Neste Link on Renewable PC Feed

Azelis, Corteva and Sika to join Together for Sustainability Initiative

Covestro Sells PC Sheets to Serafin

Sustainable Chemical Supply Chains

Covestro, Vopak and Mitsubishi Invest in Hydrogenious