German Chemical Major Covestro Awards L&T Technology Services Multi-Million Dollar ER&D Project

• LTTS to partner with Covestro to implement digital transformation
  programs globally

VADODARA, India & LEVERKUSEN, Germany–(BUSINESS WIRE)–#AmitChadha–Germany’s Covestro, a world-leading manufacturer of high-tech polymer
materials, has chosen L&T Technology Services Limited (NSE: LTTS), as
one of its major engineering services partners to implement
digitalization based Engineering Programs across Covestro’s global
locations. L&T Technology Services, a global leading pureplay ER&D
services company, has been awarded a multi-million dollar contract by
Covestro to execute these engineering transformational programs.

Covestro is running a digitalization program for engineering, operations
and maintenance activities: “OSI2020” (Optimized System Integration).
Within this program, L&T Technology Services has been selected as the
engineering partner to drive digital transformation across Covestro’s 8
global locations, especially in the area of data migration.

Covestro has also embarked upon another strategic initiative to
harmonize their Global Engineering Standards & Practices to increase
efficiency of Capital Investment Projects. LTTS is the preferred partner
to assist Covestro in defining, developing and maintaining these
standards in line with global practices. This will include updating &
improving engineering standards & specifications backed up with
knowledge management & cognitive learning tools.

“L&T Technology Services has a proven track record of delivering
innovative solutions, processes, and technologies for enterprises across
the globe. We are confident that the potential and experience of LTTS
will enable us to incorporate solutions to deliver the implementation of
Digital Transformation and Standards Harmonization. Their engineering
experience in executing global projects will help Covestro to achieve
the best-in-class Standards to execute projects. Our objective is to be
prepared by having a comprehensive contract defining the full scope of
work, meeting the requirement for different project phases and execution
strategies such as FEL3, EPCM, EPC, etc. With these initiatives, we will
optimize our project costs, timelines to ensure reliable and safe
operations,” commented Ferry Feldbrugge, Head of Global Projects &
Engineering and Global Technical Contracting, at Covestro.

“It is our privilege to enter into this engineering partnership with
Covestro, the world's leading supplier of high-tech polymer materials,
and work with them on solutions that will benefit Covestro’s strategic
vision. These programs will drive Covestro’s digital transformation and
standardization journey across the globe. We look forward to leveraging
our unique technology capabilities and our domain expertise in plant
engineering and asset management to assist Covestro in achieving its
objectives of Efficient Production and Engineering Excellence,” said Amit
Chadha, President Sales & Business Development and Member of the Board,
at L&T Technology Services Limited.

About L&T Technology Services Limited

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen
& Toubro Limited focused on Engineering and R&D (ER&D) services. We
offer consultancy, design, development and testing services across the
product and process development life cycle. Our customer base includes
52 Fortune 500 companies and 48 of the world’s top ER&D companies,
across industrial products, medical devices, transportation, telecom &
hi-tech, and the process industries. Headquartered in India, we have
around 12,000 employees spread across 15 global delivery centers, 28
global sales offices and 39 innovation labs in India as of December 31,
2017. For additional information about L&T Technology Services log on to www.LntTechservices.com.

About Covestro

With 2017 sales of EUR 14.1 billion, Covestro is among the world’s
largest polymer companies. 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 16,200 people (calculated as full-time equivalents) at the
end of 2017. Find more information at www.covestro.com
and www.cfrtp.covestro.com.

Contacts

L&T Technology Services
Aniruddha Basu
[email protected]
+91-80-67675173
or
Covestro:
Petra
Schaefer
[email protected]