Law department played key role in transition to new standalone organization
Pittsburgh, May 18, 2017 — Covestro LLC, a leading supplier of high-tech polymers, was recognized for its exemplary in-house legal services by the Pittsburgh Business Times and the Western Pennsylvania Chapter of the Association of Corporate Counsel (ACC) at the inaugural In-House Counsel Awards. At the May 17 award ceremony, the company’s Law, Intellectual Property and Compliance (LIPC) department was honored for its leadership and commitment to the legal profession with the General Excellence Award.
Only nine winners were selected for this prestigious award, which drew more than 50 quality submissions from across the Pittsburgh region. Of the nine, Covestro was one of two departments to be recognized with the General Excellence Award.
“Providing the highest level of service to our clients is something the entire team strives for every day,” said Scott G. Brown, vice president and general counsel, Covestro LLC. “Because of this, we are honored to receive this recognition, which showcases the hard work and dedication of our team during a particularly critical period for our organization.”
The LIPC department is comprised of 34 professionals, including 15 attorneys, serving nearly 3,000 Covestro employees in the United States, Mexico and Brazil. The group played a key role in the transition to Covestro LLC from the company’s predecessor, Bayer MaterialScience, in September 2015. While continuing to handle demanding day-to-day responsibilities for internal clients, the team navigated the legal complexities involved in establishing a standalone operation.
This entailed gathering and analyzing information about all aspects of Bayer MaterialScience – from real estate records and environmental permits to written contracts and past litigation. In addition, numerous agreements between Bayer and Covestro had to be negotiated and drafted, addressing transition services, office space planning, sharing of the Pittsburgh campus, and many other operational and legal aspects. A substantial amount of this work was done in-house with praise from outside counsel and Covestro executives globally for the smooth, well-coordinated and efficient process.
“Our in-house legal team is well-respected and a valuable, trusted partner working alongside the North American Leadership Team, chemical engineers and scientists, as well as various business functions, including sales and marketing, communications, procurement, HR and more,” said Jerry MacCleary, president of Covestro LLC. “The LIPC department is closely aligned with our business goals and delivers considerable value to our company. This award is well-deserved.”
The 2017 In-House Counsel Awards were presented by the Pittsburgh Business Times, in collaboration with the Western Pennsylvania Chapter of the ACC, to acknowledge the significant role that in-house counsel plays in business success. The ACC is a global bar association that promotes the common professional and business interests of in-house counsel. The judging panel for the In-House Counsel Awards was made up of members from ACC Western Pennsylvania.
About Covestro LLC:
Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2016 sales of EUR 11.9 billion. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 15,600 people at the end of 2016.
Find more information at www.covestro.com.
Alice Sox, Phone: +1 412 413 5430
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This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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