Bangkok, Thailand – Dr. Juergen Meyn, Managing Director of Covestro (Thailand) Co., Ltd. recently received the certificate of appreciation from Mr. Veerathai Santiprabhob, Governor of the Bank of Thailand (BOT) as one of five selected companies that have received the Qualified Company Status.
The Qualifies Company status will entitle the company to conduct foreign exchange transactions with commercial banks without having to submit any underlying supporting documents, such as, invoices, load agreements or other liability evidences. To date the BOT has granted the Qualified Company status to five companies and extended the Qualified Company benefits to one treasury center, entitling it to a broader scope of permissible transactions, as follows;
1. Thai Airways International PC.,
2. NMB-Minebea Thai Ltd.,
3. Covestro (Thailand) Co.,Ltd.,
4. LG Electronics (Thailand) Co.,Ltd.,
5. Star Petroleum Refining PCL., and
6. Mitr Phol Treasury Center Co.,Ltd.
With 2016 sales of EUR 11.9 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employs approximately 15,600 people (calculated as full-time equivalents) at the end of 2016.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.