Covestro launches digital transformation program ‘Strong’

Covestro launches digital transformation program ‘Strong’

Increased efficiency through digitalization and Artificial Intelligence

  • By ICN Bureau | June 26, 2024

Covestro has launched the global transformation program STRONG to keep pace with the changing market environment.

The program makes the company even more efficient and drives digitalization forward. By the end of 2028, Covestro plans to achieve annual global savings of € 400 million in material and personnel costs. € 190 million of these will be in Germany.

Dr. Markus Steilemann, CEO of Covestro says: “The last few years have been challenging for the chemical industry and for Covestro. Despite all the challenges, we have continued to drive forward our 'Sustainable Future' strategy. With STRONG, we are systematically continuing our transformation, making the company even more efficient and accelerating digitalization. I am convinced that STRONG will not only help to secure Covestro's leading position in the global market on the basis of competitive structures and processes and an impressive innovation pipeline, but also to expand it.”

Initial cost savings as part of STRONG have already been initiated. Covestro is also driving forward the use of Artificial Intelligence (AI) to continue increasing efficiency and productivity in the future.

"Right now, our four focus areas remain central to our success, namely reliable production, better plant utilization, full customer focus on high-margin demand and a high level of cost awareness,” says Christian Baier, Chief Financial Officer at Covestro. “STRONG will help us to unleash the full potential of our company and to further strengthen our competitiveness.”

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