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.”

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).

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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 The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.