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[ Star Enterprise of Chemical Machinery and Equipment Network ] In order to achieve the clear goal of a comprehensive cycle and respond to changing market expectations, Covestro adjusted its group strategy.
From July 1, 2021, Covestro will introduce a new tailor-made structure for business management, which includes seven business entities to better respond to customer needs and market competition.
Chemical machinery and equipment network star enterprise chemical machinery and equipmentFrom July 1, 2021, Covestro will introduce a new tailor-made structure for business management, which includes seven business entities to better respond to customer needs and market competition.
Looking ahead, the group's business will be divided into two major areas, namely functional materials and solutions and specialty chemicals.
• Functional materials: This area will form a separate business entity, covering standard polycarbonate, standard polyurethane raw materials and basic chemicals.
• Solutions and specialty chemicals: The field will consist of six new business entities: customized polyurethanes, coatings and adhesives, engineering plastics, specialty films, elastomers and thermoplastic polyurethanes.
In 2020, Covestro’s core business sales fell by 5.
6%, group sales were approximately 10.
7 billion euros (-13.
7%), and EBITDA reached approximately 1.
5 billion euros, in line with forecasts (-8.
2%).
6%, group sales were approximately 10.
7 billion euros (-13.
7%), and EBITDA reached approximately 1.
5 billion euros, in line with forecasts (-8.
2%).
Looking forward to 2021, Covestro stated that its financial indicators are expected to be higher than pre-epidemic levels in 2019.
Original title: Covestro adjusts the group structure, business will be divided into two major areas
