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India key in Covestro's APAC strategy: Global CFO

By Niranjan Mudholkar,

Added 02 September 2016

Covestro’s CFO Frank Lutz said in its first year as an independent entity, Covestro (former Bayer Material Science) entity clocked a strong net year-on-year income growth of 51%.

Many new products and ideas
Covestro is also breaking new ground when it comes to carbon dioxide. In 2016, Covestro inaugurated a new plant on stream at its Dormagen site in which the Carbon Dioxide is being used for the first time as a raw material. A CO2-based precursor for the production of polyurethane foam for mattresses and upholstered furniture will soon make its market debut.

A perfect example of how Covestro combines sustainability and innovation can be witnessed at the K 2016, the world's largest plastics trade fair, in Düsseldorf this October. From Covestro, one highlight is a new vehicle concept intended to promote electric mobility. For the first time ever, all of the glazing is made of polycarbonate.

Covestro has also gleaned valuable insights for the further development of its products and potential new applications from the Solar Impulse mission - the around-the-world flight completed in July in an ultra-lightweight aircraft powered only by the sun.

Among other things, Covestro designed the cockpit and provided a highly efficient insulating material, without which the flight would not have been possible.

Covestro will continue to work with the Solar Impulse founders in the future to help clean technologies to achieve a breakthrough.

END