Business & Finance
In-depth cooperation with Technical University Berlin
Covestro supports sustainable research
Partnership for Chemistry and Industrial Engineering / Focus on exploration of alternative raw materials
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Joint market study to kick-off new business opportunities
Covestro taps into China’s growing start-up scene
Comprehensive analysis of Chinese founders’ landscape / Innovative materials supplier for consumer start-ups
moreBuyback program completed around half a year earlier than planned
Covestro concludes share buyback of EUR 1.5 billion
Around 10% of capital stock bought back / Acquired shares will be retired and capital stock reduced by EUR 19.5 million / Board of Management aims to lay foundations for further buybacks
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Further strengthening of global TPU business
Covestro becomes majority stakeholder in DIC Covestro Polymer joint venture in Japan
Covestro raises stake from 50% to 80% / Partnership with DIC Corporation continues / Acquisition as part of Covestro’s global growth strategy
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Corporate Culture Award for Innovation goes to Covestro
16,000 innovators awarded
Outstanding corporate culture honored / Start-up Challenge proves innovative way of working
moreAntwerp site part of Covestro’s MDI investment program
Covestro to increase aniline production in Antwerp
Investment of around EUR 300 million / Superior infrastructure and logistics make Antwerp ideal location
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Full year guidance confirmed
Solid results in an increasingly challenging market environment
Group sales up 4.8% to EUR 3.7 billion / Core volumes remain stable / EUR 859 million EBITDA at previous year’s level / Net income totals EUR 496 million, up 1.0% over prior year / Free operating cash flow down 12.2% to EUR 578 million due to increased investments / Cost savings targeted at EUR 350 million per year
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Global capacity expansion to strengthen leading position in MDI
Covestro to invest EUR 1.5 billion in new world-scale MDI plant in Baytown, USA
Highly attractive MDI market with long-term growth prospects / New 500 kilotons MDI plant to satisfy demand and accompany industry growth / NAFTA MDI capacity to reach 740 kilotons per year by end of 2024 / Extending Covestro´s regional and global MDI leadership position
moreUN honors high engagement of material producer
Covestro announced as Global Compact LEAD
Commitment to ten principles for responsible businesses
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