Set up with a clear focus
With the realignment of the Group structure, Covestro has reorganized its previous three segments Polyurethanes, Polycarbonates and Coatings, Adhesives, Specialties into seven tailored business units effective July 2021. We now distinguish the two segments “Performance Materials” and “Solutions & Specialties”.
- Performance Materials: This segment forms a separate business entity comprising Covestro's standard polycarbonates, standard urethane components and base chemicals businesses. The focus here is on reliably delivering standard products at competitive market prices.
- Solutions & Specialties: This segment comprises the six business entities: TEngineering Plastics, Coatings and Adhesives, Tailored Urethanes, Thermoplastic Polyurethanes, Specialty Films and Elastomers. The focus here is on complex products with a high pace of innovation combined by Covestro with application technology services.
Our products and services are therefore no longer grouped by chemical but instead by the underlying business specifics and customer needs. In its new structure, Covestro has organized the seven business entities in a setup based precisely on their individual success factors and integrated all operational activities throughout the value chain that are critical to success into these new entities.
We moreover consolidate certain cross-company ‘build activities’ on a corporate level to ensure our long-term development. These include, among others, sustainability, innovation, digitalization, and strategy.
This organization now forms the foundation for further implementing our strategy and achieving sustainable growth while realizing our vision to become fully circular.