Covestro creates the foundation for sustainable growth with its new Group structure starting on July 1, 2021

  • The guiding principle: to become fully circular
  • Milestone in implementing the new strategy achieved
  • Business reorganized into seven business entities
  • Focus on customer centricity and sustainability


Covestro has restructured its organization effective July 1, 2021, and successfully reorganized its previously three segments – Polyurethanes, Polycarbonates, and Coatings, Adhesives, Specialties – into seven new, tailored business entities. The company has thus achieved a first milestone in implementing its new “Sustainable Future” strategy, which the Group had presented in February 2021. The vision of Covestro to become fully circular is the guiding principle of this strategy.

“We’re very serious about sustainability and are systematically working toward a circular economy. That will enable us to position Covestro ideally for the future,” said CEO Dr. Markus Steilemann. “Our new structure now forms the foundation for further implementing our strategy and achieving sustainable growth. We’ll become an even better partner to our customers and thus increase our competitiveness further.”

  • Production waste is a valuable raw material
  • Reprocessing on an industrial scale possible
  • Contribution to more sustainability and resource conservation

The Maezio® brand of continuous fiber-reinforced polycarbonate composites (CFRTPs) developed by Covestro are characterized by their extremely light weight, very high strength and exceptional flexibility of design. This means that waste generated during the production of composites also becomes a valuable raw material. However, because they consist of different materials that cannot be easily separated from one another, the recycling of composites is a challenge. Covestro is cooperating with recycling specialist carboNXT® on this. It has developed a process that allows the waste to be processed on an industrial scale.

"We are very excited about this joint solution, as we cannot process the materials ourselves for technical reasons," explains Lisa Ketelsen, Head of Thermoplastic Composites at Covestro. "By recycling according to type at our partner's plant, the raw materials can be converted back into valuable products with similarly good properties as those characteristic of virgin materials. The recycling of materials makes it possible to use them again in other products. In this way, we save raw material resources and contribute to the focus on the circular economy."

"Our company has many years of experience in recycling carbon fiber-reinforced thermoplastics and has the necessary plant technologies to process such waste. We were therefore the partner of choice for this task," says Tim Rademacker, general manager at Mitsubishi Chemical Advanced Materials and responsible for the carbon fiber recycling business. "From the processed waste, we produce high-quality new compounds of carbon fiber-reinforced polycarbonate for Covestro at CarboNXT®."

Demand for such recycled products is high because they are valuable raw materials, but also because more and more industrial customers and consumers are looking for more sustainable products. The project will now be further developed to market maturity by Covestro, Mitsubishi Chemical Advanced Materials and possibly other partners. It is part of a global strategic program with which Covestro is focusing all its energy on the circular economy.


About Covestro:

With 2020 sales of EUR 10.7 billion, Covestro is among the world’s leading polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative, sustainable solutions for products used in many areas of daily life. In doing so, Covestro is fully committed to the circular economy. The main industries served are the automotive and transportation industries, construction, furniture and wood processing, as well as electrical, electronics, and household appliances industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. At the end of 2020, Covestro has 33 production sites worldwide and employs approximately 16,500 people (calculated as full-time equivalents).

Find more information at www.covestro.com

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Forward-looking statements

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.