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    1COV   DE0006062144

COVESTRO AG

(1COV)
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M. Holland and Covestro Broaden Business to Distribute Polycarbonates in Mexico

10/21/2021 | 08:00am EST

M. Holland Company and Covestro S.A. de CV announced an agreement to expand polycarbonate distribution into Mexico. The agreement allows M. Holland?s U.S. clients with operations in Mexico, as well as Mexico-based clients, access to polycarbonate materials, which are vital to the production of many automotive, electrical and electronics, and healthcare products. The move signifies a progression of the 12-year relationship between the two companies in the U.S. and as M. Holland Latinoam?rica continues to broaden its operations. M. Holland Latinoam?rica is a full-service thermoplastics distributor based in Tultitlan, M?xico. Polycarbonates are well suited for applications in all industries, especially automotive, electrical and electronics, and healthcare. These industries thrive on supply chain continuity and security, which can be made stronger by growing materials access. The pandemic has strained nearly every aspect of the global supply chain, with short- and long-term challenges expected to continue. The expanded business between M. Holland and Covestro is designed to open up accessibility options for international companies with operations in Mexico as well as Mexico-based companies. Polycarbonate resins have been used in medical applications and are designed to endure high temperatures and frequent disinfection for safe sterilization. They have also been selected by car manufacturers for their lightweight properties, ideal for the growing electric vehicle market looking to maximize energy efficiency. In the electrical and electronics industries, they are chosen for smarter power management options, such as smart switch and sockets, circuit breakers, and electric vehicle charging stations, since they are built for toughness and meet material standards for these applications. The properties of polycarbonates make them a versatile material option for many industries.


© S&P Capital IQ 2021
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Financials
Sales 2021 15 339 M 17 336 M 17 336 M
Net income 2021 1 623 M 1 834 M 1 834 M
Net Debt 2021 816 M 923 M 923 M
P/E ratio 2021 6,07x
Yield 2021 6,76%
Capitalization 9 911 M 11 208 M 11 202 M
EV / Sales 2021 0,70x
EV / Sales 2022 0,69x
Nbr of Employees 17 883
Free-Float 97,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 51,34 €
Average target price 67,90 €
Spread / Average Target 32,2%
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Managers and Directors
Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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