We are Covestro. We are curious. We are courageous. We are colorful.
With 2019 sales of EUR 12.4 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 has 30 production sites worldwide and employs approximately 17,200 people (calculated as full-time equivalents) at the end of 2019.
We don’t just talk about it – we MAKE things happen. We want to try different approaches and develop innovative solutions for the world of tomorrow. We help make cars lighter so they save fuel. Our insulation systems protect buildings against the heat and cold to reduce energy consumption. In entertainment electronics, our products support functionality, safety and sleek design. We inspire innovation and drive growth through profitable products and technologies that benefit society and reduce the impact on the environment.
Covestro became an independent company listed on the stock exchange in fall 2015. Since then, we have proven to our customers and investors that we have what it takes: a strong and efficient product base combined with the flexibility and sense of purpose of a start-up, fueled by 80 years of experience.
The backbone of our organization’s success are our 17,200 employees, who work at around 30 sites across the globe – from smaller technical centers and innovation hubs to large-scale production plants. Our activities are coordinated from our corporate headquarters in Leverkusen, Germany.
Big city, big business
Since 2001, Covestro has invested more than EUR 3 billion to build up its large-scale facility in Shanghai. Some 2000 employees work here in several huge plants with the latest technology, covering all major products that Covestro offers.
Once a small fishing village, Shanghai is now the most important industrial city in China. In this emerging country, there is a strong demand for products in various industries, including the construction, automotive and electronics industries, all core markets for Covestro.
As part of recent investment program, capacities for the polyurethane raw material MDI have been significantly increased to 500,000 tons per year, while those for high-performance polycarbonates are scheduled to be increased to 400,000 tons per year. In addition, capacities for the coating raw material HDI are to be expanded to 80,000 tons per year.
Employees are particularly proud of a plant for the production of TDI, used to make such products as flexible foams for mattresses and upholstered furniture. With a production capacity of 250,000 tons, this plant features new eco-friendly technology that was developed in-house.
Shanghai has a lot more to offer besides chemistry, however. It is an incredible and exciting mix of historical buildings nestled between towering skyscrapers – the city of millions on China's east coast also has a number of record-breaking attractions.