Covestro Pushes Forward with Strategic Transformation Plan

21 Apr 2025 CW Team

Covestro AG has reaffirmed its transformation strategy at its Annual General Meeting, with shareholders approving all proposed resolutions and reelecting five Supervisory Board members. CEO Dr Markus Steilemann outlined the company's progress amidst ongoing market challenges, highlighting cost-efficiency, sustainable growth, digitalisation, and innovation as its four key focus areas. By 2028, Covestro aims to reduce annual costs by €400 million, enhance production capacity management, and expand its footprint in sustainable materials and recycling technologies. The company also plans to boost digitalisation across its value chain to improve efficiency and tap new growth opportunities. Covestro’s partnership with XRG was also highlighted as a significant long-term move, with the transaction expected to close in the second half of 2025. The reappointed Supervisory Board members include Dr Christine Maria Bortenlänger, Lise Kingo, Dr Richard Pott (also reelected as Chair), Regine Stachelhaus and Patrick W. Thomas. Despite stable EBITDA, lower selling prices and asset impairments led to a net loss for 2024. In line with its financial policy, Covestro will not distribute a dividend this year.

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..