What happened?
An external investigation was initiated against one of Covestro’s affiliates suspecting a violation of import regulations. The outcome of the investigation shows that the suspected violation was actually an unintentional error made by an employee. Therefore, the investigation was closed and the company incurred approximately 7,400 € in legal expenses.
Actions taken?
Optimization of the internal procurement process
Nomination of a Regulatory Expert
Training on chemical regulations and customs
A review of all submissions to authorities since last year
A contract initiated with an external consultant for special regulatory affairs