- October 1, 2021
- Posted by: Stratford Team
- Category: Business
finance chief is working to boost the specialty chemicals maker’s margins, review its performance metrics and offset higher raw material and energy costs.
Leverkusen, Germany-based Covestro in July reorganized its business into two new segments—solutions and specialties as well as performance materials—to structure the company along the principles of the circular economy, a business model that seeks to eliminate waste, reuse products and materials, and regenerate natural systems.
While Covestro’s performance materials business, which offers products such as base chemicals, is largely driven by volume, the solutions and specialties unit sells more complex products such as coatings and adhesives, specialty films and elastomers, which can be used to make rubber products and sealings. The units are managed differently and therefore should be separate, according to Chief…