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.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..