Global player from North Rhine-Westphalia

Materials specialist Covestro stands for progress

Success at full speed: Covestro has been on an impressive upward path ever since its foundation in 2015. The Leverkusen-based company is now one of the world’s leading manufacturers of high-tech polymer materials. Digitalization and sustainability are the key drivers in the development of innovations.

Covestro is headquartered in Leverkusen and operates production facilities at 48 sites worldwide. The company has access to a strong network, particularly in Asia, Europe, and the USA. The strong ties with customers, service providers and other external partners serve as the foundation for continually pushing the boundaries of what is possible.

Covestro aims to become operationally climate-neutral by 2035 and achieve net-zero emissions from its own production (Scope 1) and from purchased energy (Scope 2) by then. Upstream and downstream greenhouse gas emissions in the value chain (Scope 3) are also to be significantly reduced by 2035 – in the long term, Covestro aims to achieve climate neutrality for Scope 3 emissions by 2050.

Products and application solutions are already an integral part of millions of people's lives. They range from refrigerator insulation to laptop and cell phone casings to scratch-resistant and environmentally compatible automotive paints. Digitalization and sustainability are what drive our 17,500 employees worldwide to constantly creating new solutions to the challenges of our time. Covestro is also continuously introducing innovations from Germany.

Covestro is part of the DAX, Germany’s leading stock market index, since 2018. In 2023, Group sales amounted to around €14.4 billion. As of July 1, 2021, Covestro’s organizational structure has been realigned. The company aims at meeting the requirements of markets and customers even more closely and with this to deliver the prerequisites that will allow Covestro to drive sustainable growth and to become fully circular. Thus, the former three segments Polyurethanes (PUR), Polycarbonates (PCS), and Coatings, Adhesives, Specialties (CAS) have been restructured to form seven new, tailored business entities. They are subdivided into the two segments "Solutions and Specialties" and "Performance Materials”.

However, one thing remains the same: Covestro continues to supply a wide variety of industries with its innovative material solutions. Key customers include the automotive industry, construction, the wood processing and furniture industries, as well as the electrical, electronics and appliance industries. Products however are also used in other areas such as sports and recreation, cosmetics, or health. The company intends to further expand its broad positioning in the future to make its product range even more independent of cyclical market fluctuations.

Covestro has always provided solutions to the global megatrends of our time with its innovative materials. Climate change, digitalization and globalization are permanently changing the fabric of social life around the world. Consequently, the plastics industry must also continue to evolve. In this respect, the ultimate goal is to replace conventional materials with materials that are durable, lightweight, environmentally friendly and more cost-effective.

Covestro is a shaping force in the chemical industry. The company is fully committed to climate-friendly production. The use of alternative raw materials plays a decisive role in this context. The company therefore wants to reduce its dependence on fossil resources as quickly as possible. Covestro is already increasingly employing raw materials from alternative sources such as sources such as biomass and waste in production.

In addition, Covestro's business activities are consistently aligned to the circular economy. New technologies and products are the cornerstone to increase social life and reduce the impact on the planet's ecological systems. Customers who join Covestro on its journey to the circular economy also benefit: they are able to further improve their sustainability performance.

By making the circular economy a new guiding principle, Covestro is reinforcing what the company stands for every day: making the world a better place to live – with climate and environmentally friendly products and technologies that benefit society.

Covestro’s innovative strength is based on three core corporate values: curious, courageous, and colorful. With this unique philosophy, Covestro is continuing its path to setting new standards in the chemical industry. As such, the company is facing the challenges of our times with great confidence. The goal is to push the boundaries of what is possible. This mindset is lived by Covestro employees at all of its sites around the world. When implementing projects, the company uses the three sustainability dimensions “People, Planet, Profit” as sustainability formula.

History of Covestro in Germany

  • 2024

    Climate neutrality target for Scope 3 emissions

    Covestro aims to reduce greenhouse gas emissions upstream and downstream in the value chain (Scope 3) by ten million tons by 2035. In the long term, Covestro aims to achieve climate neutrality for Scope 3 emissions by 2050.

  • 2022

    Climate neutrality by 2035

    Covestro aims to be climate neutral by 2035 – as the first company in the chemical industry. The target relates to greenhouse gas emissions from the company's own production (scope 1) and from external energy sources (scope 2).

  • 2020

    Innovative MDI Production Plants

    Covestro launches a highly efficient MDI plant in Brunsbüttel in February 2020. The company has also been producing MDI at the site in an additional industrial pilot plant since November 2020. The new AdiP technology is being used there for the first time, significantly saving water steam, electricity, and therewith CO₂.

  • 2019

    First woman on the Covestro Management Board

    Sucheta Govil becomes Chief Commercial Officer (CCO) in August 2019. She is the first woman to join the Management Board of Covestro AG. From now on, the Board of Management will consist of four members.

  • 2018

    Becoming a DAX member and introducing a new CEO

    Covestro AG is listed on the German stock market index DAX as of March 19, 2018. Dr. Markus Steilemann begins his work as the new Chairman of the Management Board of Covestro AG in June 2018.

  • 2015

    Foundation of Covestro

    Bayer MaterialScience AG becomes the legally independent company Covestro on September 1, 2015. The headquarters of Covestro AG remains in Leverkusen, Germany. Covestro AG is listed on the MDAX as early as October 2015.

  • 2014

    Covestro launches world-scale plant

    The company expands its portfolio with the production of toluene diisocyanate (TDI) at its site in Dormagen. The state-of-the-art large-scale plant boasts a production capacity of 300,000 metric tons per year.

  • 2010

    Expansion of business in China

    The company invests another billion euros at its Shanghai site. The aim is to more than double production capacity. In addition, the headquarters of the Polycarbonates Business Unit is relocated from Leverkusen to Shanghai.

  • 2004

    Spin-off of Bayer MaterialScience AG

    As part of a company-wide restructuring, Bayer AG divests its Chemicals and Plastics segment. Bayer MaterialScience AG operates henceforth on the market as a legally independent company.

  • 2001

    Start of construction in Shanghai

    The site in Shanghai, China, is erected on what was once a rice field. Today, the site is home to state-of-the-art production facilities for plastics and precursors for foams and coatings.

  • 1953 - 1965

    Innovations from Krefeld-Uerdingen

    Hermann Schnell invents polycarbonate at the Group’s Central Scientific Laboratory. The first chlorine production plant goes into operation. The company gives the go-ahead for MDI production.

  • 1912 - 1937

    Research breakthrough in Leverkusen

    Bayer chooses Leverkusen as its headquarters. A team led by chemist Otto Bayer synthesizes polyurethanes for the very first time. Initially, the benefits of polyurethanes are still unclear. This is another reason why industrial production does not begin until years later.

The Board of Management is responsible for steering Covestro’s global business operations. The four-member body defines the corporate goals, sets the strategy, and determines directives for the resulting corporate policies. Dr. Markus Steilemann has been Chairman of the Board of Management of Covestro AG since June of 2018. The Supervisory Board monitors and advises the Board of Management. Dr. Daniel Koch, Managing Director of Covestro’s facilities in North Rhine-Westphalia, and Dr. Rainer Bruns, Managing Director of Covestro in Brunsbüttel, take on prominent roles in the management of the German sites.

Christian Baier (CFO), Sucheta Govil (CCO), Dr. Markus Steilemann (CEO) and Dr. Thorsten Dreier (CTO), make up the four-member Covestro Board of Management (left to right).

The Management Board exemplifies the values and ethical principles of the company. They apply to all sites worldwide and form the basis for a working environment in which different competencies, talents, backgrounds, and views are welcomed and treated with respect. Covestro has also summarized the most important social, ecological, and ethical standards for cooperation with its suppliers in a code of conduct.

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    Around 7.250 employees work for Covestro at six sites in Germany.

  • Germany

    We are Covestro

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