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Covestro AG (1COV.DE)

1COV.DE on Xetra

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Tue, Nov 20 2018

Covestro cuts 2018 profit outlook on competition, shipping costs

FRANKFURT German chemicals maker Covestro warned it expected a slight decrease in earnings this year compared with a gain seen previously, leading its shares to slump to a two-year low.

UPDATE 1-Covestro to cut 900 jobs in 350 mln euros efficiency push

* Q3 EBITDA 859 mln eur vs 830 mln eur poll avg (Adds details on earnings development, outlook)

Covestro aims to cut costs by 350 mln eur from 2021

FRANKFURT, Oct 25 Germany's Covestro plans to reduce costs by 350 million euros ($400 million) per year from 2021, aiming to reign in an increase in expenses from an investment push to widen output capacity.

Covestro to invest $1.7 billion in Texas chemical plant

FRANKFURT Germany's Covestro will invest 1.5 billion euros ($1.7 billion) in a new plant in Texas to produce the main chemical used in polyurethane foams, taking up a challenge posed by rivals' growth plans.

UPDATE 2-Covestro to invest $1.7 bln in Texas chemical plant

* Baytown project expenditures to peak 2021-2023 (Adds CEO comment on rival projects, investment spread over time)

Covestro to invest 1.5 bln euros in Texas chemical plant

FRANKFURT, Oct 9 Germany's Covestro, the former plastics unit of Bayer, will invest 1.5 billion euros ($1.7 billion) in a new production plant in Baytown, Texas for chemicals that go into rigid insulation foams.

Exclusive: Bayer puts stake in chemical park operator up for sale - sources

FRANKFURT Bayer is inviting financial investors to bid for its 60 percent stake in chemical park operator Currenta after initially failing to agree a sale to its former chemicals subsidiary Covestro, three people familiar with the matter told Reuters.

UPDATE 1-Covestro raises profit guidance and investment plans on strong demand

* Q2 EBITDA up 16.2 percent to 985 bln euros vs f'cast 1.2 bln

Covestro ups profit guidance on strong plastics demand

FRANKFURT, July 26 Germany's Covestro raised its earnings guidance and bolstered its investment ambitions, encouraged by strong demand for its specialty materials such as transparent polycarbonate plastics.

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