Hello Covestro!

Bayer MaterialScience now Legally and Economically Independent under the New Name Covestro

 

One of the world’s leading polymer materials suppliers has a new identity. From September 1, 2015 Bayer MaterialScience is operating under the Covestro name. The company is now legally and economically independent, but will remain a subsidiary of Bayer AG. The Covestro AG debuted on the stock market on October 6.

Covestro is a renowned supplier of high-tech polymers and develops innovative product solutions for a wide variety of everyday uses. Products holding leading positions on the world market account for a large proportion of its sales.

The subgroup’s portfolio is divided into three business units

and the Industrial Operations area.

Corporate Data

Company Name

Covestro AG

Headquarters

Leverkusen, Germany

Chairman of the Board of Management

Patrick Thomas

Divisions

Coatings, Adhesives, Specialties
Plastics
Polycarbonates

Corporate Figures

Sales

EUR 11,982 million

EBITDA1 Before Special Items

EUR 1,659 million

R&D Expenses

EUR 262 million

Employees

15,761

(As of December 31, 2015)

1

for definition see footnotes to Bayer Group Key Data table

The New Mission

Covestro has a new, colorful logo. Its vision is also new: “To make the world a brighter place.” “We fulfill this vision by inspiring innovation and driving growth through profitable technologies and products that benefit society and reduce environmental impacts,” said Thomas.

Patrick Thomas, CEO of Covestro: “We’re proud of where we came from and excited about our new beginning.”

Versatile Products for Key Industries

Covestro supplies key industries around the world, such as the automotive, construction and electronics sectors, as well as the furniture, sporting goods and textiles industries. With its products and applications solutions, the company is helping to meet the major challenges of our time, from climate change and resource depletion, increasing mobility and urbanization to population growth and demographic change.

Products include raw materials for premium polyurethane foam, which in the form of flexible foam is used primarily in furniture, mattresses and automobile seats; as rigid foam, it serves to insulate buildings and refrigeration equipment. Covestro also produces high-performance plastic polycarbonates, which are also very versatile materials for automotive components, roof structures, medical devices and much more. Rounding out the portfolio are specialty chemicals, including raw materials for coatings, adhesives and films.

The Board of Management

Patrick Thomas

Patrick Thomas,
CEO of Covestro AG

Covestro is managed by a four-member board of management:


  • Patrick Thomas (CEO)
  • Frank H. Lutz (Finance, Labor Director)
  • Dr. Klaus Schaefer (Production and Technology)
  • Dr. Markus Steilemann (Innovation)


Photos and biographies are available on the Covestro website.

For Journalists


Not for distribution, directly or indirectly, in or into the United States, Australia, Canada or Japan:

Covestro in Social Media


Last updated: June 28, 2016 Copyright © Bayer AG
http://www.bayer.com