Business & Finance
Buyback 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
more
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
more
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
more
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
more
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
more
Awards for innovative business ideas on new materials
Covestro promotes entrepreneurship in chemistry
Partner of University Innovation Challenge and Chem Start-up Award / Focus on open innovation with universities and start-ups
more
