Covestro and the Corona Crisis

How does Covestro deals with the Corona Crisis?

We are facing a time, where today it is uncertain what tomorrow holds. With the Coronavirus spreading globally and impacting lives as well as economies, we are facing challenges that are unprecedented.

Now, it is more important than ever, to stand together as one and support each other.

For Covestro, this means that even under extreme pressure we will continue to be a proactive and reliable partner to our valued customers.

Drawing lessons from China

In China, our incredible colleagues worked tirelessly and showed such tremendous commitment. With many factories closed, highways restricted and logistics employees like truck drivers under mandatory quarantine, our supply chain employees at Covestro stepped up to keep the deliveries of products to our customers on time.

As soon as the epidemic started, we quickly implemented our Business Continuity Plans.

By ensuring the health and safety of employees in the region, keeping the production at our sites running as well as taking care of front-line medical workers via much needed donations, Covestro was able to keep business running, even ramp up production and reliably deliver to customers when many others couldn’t.

Maintaining reliable supply

I want to emphasize that also our supply chain in Germany and other European markets is still intact and Covestro is well-positioned as this crisis deepens.

We monitor the situation in close cooperation with our customers and stay in constant contact with them through our communication channels.

We’ve already sent various customer letters giving an update on our general supply situation as well as with specific reference to our situation in Italy.

Leveraging digital touchpoints

In addition, Covestro is also available on all digital channels and we want to encourage our customers to use this option as well.

The Covestro Solution Center offers information on our entire portfolio, lets customers compare products side by side or request samples.

Via Order@Covestro, our digital order platform, customers are able to place, track and trace their order and receive important alerts and notifications regarding the delivery status.

Through Covestro’s digital B2B trading platform – the Covestro Direct Store powered by Asellion – we enable customers to do business around the clock and buy products conveniently, flexibly and securely via a digital sales channel.

We at Covestro are committed to keep our promises and deliver.

I am especially proud of each and every one of our colleagues, who proved during the past weeks that we keep our focus on the customer and that no challenge is unsurmountable as long as we stick together and work as one.

And we promise to continue to do that.

Written by

Sucheta Govil, Chief Commercial Officer and Member of the Managing Board at Covestro

Covestro stays customer focused in difficult times

Covestro Postpones Annual General Meeting

Due to the rapid spread of the coronavirus (SARS-CoV-2) in Germany, Covestro AG will not be able to hold its Annual General Meeting at the World Conference Center Bonn on April 17, 2020, as convened.

This was decided by the Board of Management on March 22.

The health of employees, shareholders and service providers involved takes absolute priority, Covestro said.

By postponing a meeting with a physical presence, Covestro would like to actively contribute to the slowing down of the spread of the coronavirus.

Also, the city of Bonn has prohibited all events of any kind for an unlimited period of time. In view of the current course of the wave of the infection, it cannot be assumed with sufficient certainty that this legal situation will change by April 17, 2020.

As a result of the cancellation of the Annual General Meeting on the original date, the resolution on the use of the distributable profit 2019 and consequently, the payout of the dividend, among other things, will be postponed.

The Annual General Meeting shall be scheduled to take place on a new date within the first eight months of the current financial year as stipulated by the German Stock Corporation Act. Covestro AG will inform its shareholders as well as the public of the next steps in due course.


Covestro Postpones Annual General Meeting

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