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 Apr 2026

BPTP awards Rs 4.88 billion contract to NCC

BPTP has awarded a construction contract worth Rs 4.88 billion to NCC Limited for its residential project Downtown 66 in Gurugram.The contract covers civil structure and finishing works for a total construction area of approximately 1,79,302 sq m, including residential towers and associated amenities, in line with approved plans and specifications.Located along Golf Course Extension Road, the project forms part of BPTP’s Gurugram portfolio and is designed around modern living, sustainability, connectivity and occupier-centric planning.Commenting on the development, Manik Malik, CEO & Pre..

Blue Cloud Acquires Global Impx To Build AI Energy Platform

Blue Cloud Softech Solutions Limited (BCSSL) said its board has approved an all-share acquisition of 100 per cent of Global Impx Inc. (GIX) as part of a strategic pivot into AI-driven energy and digital infrastructure, subject to execution of definitive agreements and regulatory, corporate and shareholder approvals including a Special Resolution at an Extraordinary General Meeting scheduled for May 04, 2026. The BSE-listed technology conglomerate intends the transaction to accelerate its evolution into a technology enabled infrastructure company operating at the convergence of artificial intel..

Hyatt House Offers Home-Like Stays Across 140 Locations

Hyatt House hotels (Hyatt House) is presented as a brand designed to welcome guests seeking spacious and well equipped living accommodations for short or long term stays. The brand operates at more than 140 locations worldwide and delivers home like amenities and purposeful service. It highlights complimentary home cooked breakfast and a creatively curated menu at H Bar as part of its offering. The offering is positioned to appeal to professionals and families who seek both convenience and a sense of familiarity while travelling. Hyatt House provides contemporary spaces that include indoor and..