Siemens and Covestro strengthen strategic partnership

Jun. 10, 2018 – Siemens AG and Covestro Deutschland AG have concluded a Joint Business Development Plan to provide further strategic reinforcement of their partnership, particularly in the field of digitalization. The variety of topics extends from the continuous development of production technologies, to piloting new ideas designed to contribute to the digital landscape.

“This collaboration with Siemens generates added value for both companies. We are combining the innovative forces of both companies to extend our lead in this time of rapid development,” said Dr. Klaus Schäfer, Chief Technology Officer, Member of the Executive Board, Covestro Deutschland.

One focal point of the collaboration is to increase the availability of all assets in a plant and to give personnel on site quick and meaningful decision-making tools for their work. The objective is to make the plants more reliable and to be able to predict developments in the condition of a plant’s assets more reliably.

New analytical methods are now available through the use of Siemens’ open, cloud-based IoT operating system, MindSphere. Smart data applications provide support for both operation and maintenance. They enable potential asset or component defects to be predicted, as well as helping to minimize plant downtime, explains the company. New options are available through Siemens’ data analytics and simulation methods. On this basis, the partnership will examine various applications and evaluate, for instance, the benefit to be gained from correlating data for production.

“I am very pleased with this new stage of our concerted collaboration with Covestro Deutschland AG. By exchanging expertise, we can support plant operations and maintenance with the right information at the right time, particularly with smart data for production, plant equipment and instrumentation,” said Eckard Eberle, CEO of the Business Unit Process Automation, Siemens AG.