Siemens and Covestro strengthen strategic partnership as part of digitalization

Siemens AG and Covestro Deutschland AG have concluded a Joint Business Development Plan to provide further strategic reinforcement of their trust-based partnership of many years, particularly in the field of digitalization. This is based on the corporate ethos of the two companies which is both innovative and geared towards sustainability. The agreement therefore helps make life simpler and safer through continuous improvement and future-oriented products.

The variety of topics is exceptionally broad and extends from the continuous development of production technologies, to piloting new ideas which contribute to shaping the digital landscape of both companies.

Dr. Klaus Schäfer, Chief Technology Officer, Member of the Executive Board, Covestro Deutschland AG: "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."

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 through proven products and innovative services 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. Significant data and measured values are collated on this platform, put into a meaningful context, and intelligently linked in data models. 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. 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.

Eckard Eberle, CEO of the Business Unit Process Automation, Siemens AG: "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."

Siemens is developing predictive process data models for manufacturing which, among other things, minimize breakdowns; other developments include mobile devices for use in the field, and software solutions which can communicate with process technology and control and management systems. Further to this, Covestro Deutschland AG is introducing its process technology and production expertise to generate joint marketing solutions.

Source: siemens.com