auto industry: Covestro finance chief told Reuters that demand was being bolstered by the global auto industry, which uses Covestro materials for headlights, car seats and panoramic roofs, and by construction of commercial real estate in China, driving sales of the group insulation foams, according to Euro News. There continues to be a trend for us to see very good volume growth in our main business, which also drives profitability. Covestro was listed on the Frankfurt stock exchange in October but is still 64 percent owned by parent Bayer, which is wooing takeover target Monsanto
. Bayer plans to sell the remainder of shares on the open market but claims that the need to fund a Monsanto deal would not hasten the exit. The better we can fill our production sites, the better the profitability, CFO Frank Lutz said. Volume growth was 13 percent there in the first quarter and that has broadly continued over the half-year. China has been an extremely good turf for us in terms of sales volume growth. (news.financializer.com). As reported in the news. Tagged under auto industry, production sites topics.