:Covestro

{{Short description|German chemical company}}

{{Infobox company

| name = Covestro AG

| logo = Covestro Logo.svg

| logo_size = 150px

| type = Aktiengesellschaft

| traded_as = {{plainlist|

• {{FWB|1COV}}

}}

| predecessor = Bayer MaterialScience

| successor =

| founder =

| defunct =

| fate =

| area_served =

| key_people = Markus Steilemann (CEO)

| industry = {{ubl|Chemicals|Materials}}

| foundation = {{start date and age|2015|9|1|df=yes}}

| location_city = Leverkusen, North Rhine-Westphalia

| location_country = Germany

| genre =

| products =

| services =

| revenue = {{increase}} {{€|18.0 billion|link=yes}} (2022){{cite web |url=https://report.covestro.com/annual-report-2022/_assets/downloads/covestro-ar22-entire.pdf |title=Speeding Up to Circularity. Annual Report 2022. Covestro. |access-date= 3 August 2023}}

| operating_income = {{decrease}} {{€|0.3 billion}} (2022)

| net_income = {{decrease}} {{€|-0.3 billion}} (2022)

| assets = {{decrease}} {{€|14.6 billion}} (2022)

| equity = {{decrease}} {{€|7.1 billion}} (2022)

| num_employees = 17,985 (2022)

| parent =

| divisions =

| subsid =

| footnotes =

| homepage = {{URL|https://www.covestro.com/}}

}}

Covestro AG is a German company producing polyurethane and polycarbonate raw materials. Products include isocyanates and polyols for cellular foams, thermoplastic polyurethane and polycarbonate pellets, as well as polyurethane based additives used in the formulation of coatings and adhesives.{{Cite web |title=The three segments of our core business {{!}} Covestro |url=https://www.covestro.com/en/company/profile/segments |access-date=2021-03-19 |website=www.covestro.com |language=en}} It is a Bayer spin-off formed in the fall of 2015 and was formerly called Bayer MaterialScience.Christopher Alessi for the Wall Street Journal. Sept. 1, 2015 [https://www.wsj.com/articles/bayer-separates-material-science-business-covestro-1441121859 Bayer Separates Material Science Business Covestro].Joyce Gannon for the Pittsburgh Post-Gazette September 1, 2015 [http://www.post-gazette.com/business/healthcare-business/2015/09/01/Bayer-s-material-science-unit-now-under-Covestro-name-pittsburgh-robinson/stories/201509010151 Bayer MaterialScience assumes its new identity as Covestro].

Covestro shares were first offered on the Frankfurt Stock Exchange in October 2015.Sheenagh Matthews and Alex Webb for Bloomberg News. October 6, 2015 [https://www.bloomberg.com/news/articles/2015-10-06/covestro-jumps-on-first-day-of-trading-in-frankfurt-after-ipo Covestro Jumps on First Day of Trading in Frankfurt After IPO]. Bayer sold its entire remaining stake in May 2018, Bayer's pension fund had a 6.8% stake managed separately.{{cite news |title=Bayer Boosts Finances With $2.6 Billion Covestro Stake Sale |url=https://www.bloomberg.com/news/articles/2018-05-03/bayer-sells-remaining-stake-in-covestro-3-years-after-its-ipo}} On October 1st 2024, Abu Dhabi National Oil Company (ADNOC) announced a deal to buy Covestro for 14.7 billion euro.{{Cite web |date=2 October 2024 |title=Abu Dhabi's ADNOC to buy German chemicals firm Covestro for $16 bln |url=https://www.reuters.com/business/energy/abu-dhabis-adnoc-buy-german-chemicals-company-covestro-164-bln-2024-10-01/ |access-date=2 October 2024 |website=Reuters}}

The main industries served are automotive manufacturing and supply, electrical engineering and electronics, construction and home products, and sports and leisure. Their products include coatings and adhesives, polyurethanes that are used in thermal insulation, electrical housings, and as a component of footwear and mattresses, and polycarbonates such as Covestro's Makrolon, which are highly impact-resistant plastics. Covestro polyurethane was used in the 2014 official FIFA World Cup football.Justine Coyne for the Pittsburgh Business Times. Jun 12, 2014 [http://www.bizjournals.com/pittsburgh/blog/morning-edition/2014/06/bayer-gets-ball-rolling-at-world-cup.html Bayer gets ball rolling at World Cup] Before 2019, Covestro enjoyed rapid earnings growth following supply shortages of chemicals used in foams.Zuzanna Szymanska (July 24, 2019), [https://www.reuters.com/article/us-covestro-results/covestro-confirms-2019-outlook-despite-cooling-economy-idUSKCN1UJ0DD Covestro confirms 2019 outlook despite cooling economy] Reuters.

In September 2023, Covestro announced that it was in talks with the Abu Dhabi National Oil Company (ADNOC), which was interested in acquiring the company.{{Cite web |date=2023-09-08 |title=Covestro: Saudi-Arabiens Ölkonzern Adnoc könnte Chemiekonzern übernehmen |url=https://www.faz.net/aktuell/wirtschaft/covestro-saudi-arabiens-oelkonzern-adnoc-koennte-chemiekonzern-uebernehmen-19162008.html |access-date=2025-05-09 |website=FAZ.NET |language=de}} On October 1, 2024, Covestro announced that it supported a takeover bid by ADNOC in the amount of €62 per share. The Abu Dhabi state-owned company would thus acquire Covestro for up to €16 billion.{{Cite web |title=Ölkonzern Adnoc aus den Emiraten schluckt Covestro – Marktkenner sind optimistisch |url=https://www.wiwo.de/unternehmen/industrie/kunststoffhersteller-oelkonzern-adnoc-aus-den-emiraten-schluckt-covestro-marktkenner-sind-optimistisch-/30018276.html |access-date=2025-05-09 |website=www.wiwo.de}}{{Cite web |title=ADNOC to buy Covestro for $16.3 billion |url=https://cen.acs.org/business/mergers-&-acquisitions/ADNOC-buy-Covestro-163-billion/102/web/2024/10 |access-date=2025-05-09 |website=Chemical & Engineering News |language=en}} The acquisition is expected to be completed in the second half of 2025.{{Cite web |last=Küfner |first=Thorsten |title=Covestro: Adnoc ist am Ziel |url=https://www.deraktionaer.de/artikel/aktien/covestro-adnoc-ist-am-ziel-20372141.html/ |access-date=2025-05-09 |website=www.deraktionaer.de |language=de-de}}