In response to the expressed interest from the Abu Dhabi National Oil Company (Adnoc), the Board of Management at Covestro AG has taken a significant step by initiating open-ended discussions with Adnoc. The outcome of these discussions, including the form and potential conditions of any agreement, remains uncertain and contingent upon the course of the … Read more
Covestro has completed construction on a new production facility for polyurethane dispersions (PUDs) in Shanghai, China. Once coming on stream in the first quarter of next year, the new capacity is expected to greatly address the rising demand for environmentally compatible coatings and adhesives in Asia Pacific, serving industries ranging from automotive, construction, and furniture … Read more
Abu Dhabi National Oil Co. (ADNOC) has reportedly made a significant offer exceeding €10 billion ($10.9 billion) to acquire Covestro AG, a leading chemicals giant. The news of the potential takeover caused Covestro’s stock to surge, with shares jumping by double digits. ADNOC, traditionally an oil and gas producer, aims to diversify its portfolio and … Read more
German materials manufacturer Covestro inaugurated a new production line for high-performance Thermoplastic Polyurethanes (TPUs) that will be used for the production of paint protection films (PPF). The new line is located at the company’s existing site in Changhua, Taiwan. The investment and the expansion of its production capacities for high-performance Thermoplastic Polyurethanes at the site … Read more
Covestro, a leading global supplier of high-performance polymer materials, reported its first quarter 2023 results. Despite a challenging business environment and weak demand, the company exceeded its own and analysts expectations. Group sales were down 20.1% to EUR 3.7 billion, and EBITDA was 64.5% lower year over year at EUR 286 million. However, the company’s … Read more
Covestro recently started up two polycarbonate compounding production lines at its Greater Noida plant near New Delhi in India. The new plants are intended to meet the growing demand for compounded plastics, particularly for the automotive and electrical and electronics industries. In addition to its extensive polycarbonate portfolio, the company now has more than double … Read more
Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has been awarded an Engineering, Procurement and Construction (EPC) contract by Covestro for a new aniline plant in Antwerp, Belgium. Covestro is one of the world’s leading polymer companies, focusing on the manufacturing of high-tech polymer materials and the development of innovative, sustainable solutions for products … Read more
Covestro announced on Tuesday that it will proceed with work on a world-scale methylene diphenyl diisocyanate (MDI) plant after suspending plans to build a unit in the US in early 2020. The company had announced in January 2020 that it would halt work on its planned 500,000 tonne per year MDI plant at its Baytown, … Read more
Royal DSM has reached an agreement to sell its Resins & Functional Materials (RFM) and associated businesses to Covestro AG for an Equity Value of €1.6 billion ($1.9 billion). Completion of the transaction, which is subject to the customary conditions and approvals, is expected in the first half of 2021. The transaction will include all … Read more
Covestro A.G. is delaying work to expand its MDI plant in Baytown, a move that will halt work on the MDI-500 project for 18-24 months. In a Jan. 21 news release about the decision the company cited “challenging global market dynamics” for the halt. However, it stressed that there were no plans to leave the MDI … Read more
Covestro successfully closed the sale of its European Systems Houses business to H.I.G. Capital effective as of November 1, 2019. The sales proceeds amount to a high-double-digit euro million sum. The business comprises facilities in the Netherlands, Denmark, Spain, Germany and further businesses in Italy. With approximately 250 employees, the business generates a annual sales … Read more
Materials manufacturer Covestro has signed an agreement with Serafin Group for the sale of Covestro’s European polycarbonate sheets business, which comprises manufacturing units in Belgium and Italy, central management operations and sales support in Europe. The business generates total revenues of around EUR 130 million ($144 million). Polycarbonate sheets are highly break-resistant and are mostly … Read more
Royal Vopak, Mitsubishi Corporation, Covestro and AP Ventures invest €17 million into Hydrogenious LOHC Technologies GmbH and its Liquid Organic Hydrogen Carrier (LOHC) technology for hydrogen logistics. With its innovative Liquid Organic Hydrogen Carrier technology, Hydrogenious LOHC Technologies was able to attract further strong partners. In addition to AP Ventures, who invested in the German-based … Read more
Covestro, a leading global supplier of high-performance polymer materials, has delivered its first commercial order of polyurethane raw materials for wind blades to China. China is the world’s largest wind power market with 221 GW of installed capacity at the end of 2018, according to the World Wind Energy Association.(1) The blades, produced by Zhuzhou … Read more