Covestro invests €100m in R&D in the three years to 2025

LONDON (ICIS)–Covestro will have invested around €100 million in its research and development (R&D) infrastructure and assets over the three years to 2025, the high-performance materials producer said on Tuesday.

The investments include ‘direct coating’ technology for the automotive sector, and high-performance computers which can simulate chemical processes to develop recycling capability.

Covestro has also enhanced its infrastructure and global sites in Leverkusen, Germany, Pittsburgh in the US and Shanghai in China.

“Our investments in R&D are integral to our strategy of creating value for our customers. They are enabling us to expand and maintain our innovation pipeline at a high level,” said Sucheta Govil, Covestro chief commercial officer.

Last week, Abu Dhabi state oil and petrochemicals player ADNOC launched a public takeover offer for Covestro, representing an equity value of €11.7 billion.