Covestro and Siemens have concluded a strategic supplier agreement that will reportedly enable faster and easier collaboration for the next five years.

Until now, Covestro and Siemens executed individual supply agreements for different material groups and services. According to the companies, the new structure provides a general framework and serves as the basis for all future contracts and agreements between the companies.

“With this agreement, we are strengthening our trusting partnership and can now work together even more closely and efficiently,” stated Thorsten Dreier, chief technology officer at Covestro. “This step makes it clear that we will continue to rely on our partnership with Siemens in the future.”