MOSCOW (MRC) -- The CEO of the Leverkusen-based plastics group Covestro, Markus Steilemann, is to head the German Chemical Industry Association (VCI) in the future, according to Eu Editorial.
The VCI announced on Thursday in Frankfurt that the executive committee had proposed the manager for the election on September 29 in Berlin. Steilemann is to succeed the acting association president Christian Kullmann, who is also head of the specialty chemicals group Evonik based in Essen. According to the statutes, the VCI presidency lasts two years.
Steilemann has been vice president of the VCI board for a good two years and has been head of Covestro since the summer of 2018. The manager, born in 1970, studied chemistry and business administration at the RWTH Aachen and also did his doctorate there.
As MRC informed before, in April 2021, DSM completed the sale of the resins & functional materials businesses to Covestro for EUR1.6 billion (USD1.9 billion), including EUR1.4 billion in cash.
We remind that Covestro closed the sale of its European polycarbonates (PC) sheets business to the Munich-based Serafin Group effective January 2, 2020. This includes key management and sales functions throughout Europe as well as production sites in Belgium and Italy.
According to MRC's ScanPlast report, Russia's overall consumption of PC granules (excluding exports from Belarus) totalled 7,800 tonnes in January 2022, down by 4% year on year (8,100 tonnes a year earlier).
Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc. With 2020 sales of EUR 10.7 billion, Covestro has 33 production sites worldwide and employs approximately 16,500 people (calculated as full-time equivalents).